[August 12] 30-Second Gold Non-Discretionary Scalping Trade Result
Details of 30-Second GOLD Discretionless Scalping
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This is the trade from August 12.
21:30
United States CPI July [MoM]
21:30
United States CPI July [YoY]
21:30
United States CPI July [Core, MoM Excluding Food & Energy]
21:30
United States CPI July [Core, YoY Excluding Food & Energy]
and other indicators are in store.
They are concentrated in the same time period, so caution is needed during this time.
Trades based on those considerations.
On the 11th, there was a sharp break to the downside, resulting in a drop of nearly 500 pips.
A large fall that wipes out the week's gains.
This disrupts the trend, raising questions whether a new downtrend will form by breaking lower highs, or if the market will continue in a range for a corrective phase.
However, price action has been range-bound with no directional movement from the Tokyo to the London sessions.
There is no new low; the market drifts into the New York session without a clear trend.
Even in New York, there is no significant movement.
Although the price is gradually moving lower, there is no momentum to take out the lows, and a ranging market persists.
Nevertheless, temporary volatility is high, and stop-loss ranges have widened.
Some trades closed in profit after the move, making some misses, but it’s the rule, so it cannot be helped.
On the 11th, with the sharp price action, a period of quiet consolidation within a range is expected for a while, presenting a challenging time, but we should continue trading calmly in a non-discretionary manner and enter trades steadily.
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