GOLD potentials on CPI/ UnemploymentCl
as we see the price is waiting for CPI and unemployment claim results,
previous Unemployment claim was 227K and the forecast is 231k, it means that we may have more unemployed people in USA, and the dollar may get weaker, this makes GOLD bullish and technical chart potentials is showing us we may hit 1930 if the news goes this way,
CPI and unemployment claim results may come with seconds of delay which may affect the gold market so we wait until the news confirmation, therefore, i may put sell stops and buy stops around the selected area (order box).
the market wont let you to close your open orders, because it may goes fast, so use TP for both orders.
I may only search for sells today and don't think about gold buys.
I use small lot size because news trading is risky.
don't forget to put Stoploss on all your orders if you also considered slippage on opining both pending orders.
previous Unemployment claim was 227K and the forecast is 231k, it means that we may have more unemployed people in USA, and the dollar may get weaker, this makes GOLD bullish and technical chart potentials is showing us we may hit 1930 if the news goes this way,
CPI and unemployment claim results may come with seconds of delay which may affect the gold market so we wait until the news confirmation, therefore, i may put sell stops and buy stops around the selected area (order box).
the market wont let you to close your open orders, because it may goes fast, so use TP for both orders.
I may only search for sells today and don't think about gold buys.
I use small lot size because news trading is risky.
don't forget to put Stoploss on all your orders if you also considered slippage on opining both pending orders.
Comment:
also check this chart
Trade closed: target reached:
good day TP hit