Spot Gold price is consolidating within the 1268 - 1274 range. Is it quite clear that as long as it closes between that price band it will stay sort of directionless until a breakout. My preference is to buy somewhere between 1256 and 1262 with SL order @1248 (provided that the sell of is manageable). If the price has not reached 1262 before Friday I would certainly go long after the NFP release with a tight SL order. For now who ever has been scalping could continue to do so, selling in rallies as long as the price does not close above 1275.
Please share your strategies for the NFP release so we can comment them in here.
Please share your strategies for the NFP release so we can comment them in here.
Hopefully so, although I expect XAU to go down never forget that it may also go up, so that your positions must be protected at all times.
ReplyDeleteGood Morning Guys, so my SL got executed with a small loss, I'v placed a pending sell on daily R1 1278.02, 1st target 1271.86 Daily Pivot, 2nd S1 at 1267.
ReplyDeleteI have no idea how I'm going to trade the NFP data. it scares the living daylights out of me :)
Find, in the archive drop-down menu on the right column of the site the post published before the last NFP data release. There is a 1 minute chart strategy which worked pretty well back then and has the lowest risk among different strategies to trade NFP.
DeleteVery good written article. It will be supportive to anyone who utilizes it, including me. Keep doing what you are doing – can’r wait to read more posts. Sell Old Gold
ReplyDelete