a break of last friday's low at 1298, I'll scale in with a trailing stop of prior day's high.
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The catalyst of the bull run was trump-kim summit cancellation, which has now resume. Fundamental appears to add up with trade plan.
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3/4 profit taken with average exit at 1293
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FOMC tonight. 1/4 position remaining. I expect a hike to be priced in, as such a bullish move for gold. I'm keeping close eye on the price movement. If it shoots up to a maximum of $7 and stays there, I'll scale in my shorts. Otherwise, analysis will be needed for a long opportunity. Price is still below support which is encouraging.
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1) Hawkish forward guidance from the dot plots (4 rate rises this year rather than the 3 given in march), and im an agressive seller 2) Dovish = No change in the dot plots PLUS they maintain neutral rates I will look to be a buyer on a PULLBACK rather than paying highs. Think this will be the harder trade due to the structure
Trade closed manually
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@1294. on average about 2R thus +2% on equity.
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and the drop comes after i tp. perfect
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Worst feeling in the world. I guess this calls it
for this particular trade: Planned = +9.44% (1:9 Risk:Reward omg) Discretionary = 2% T.T