Forex Trader

I had a great gold setup on Friday and I thought to leave this trade for this week with target at 1320, but I close it an hour after the market was open, with +200 pips profit. Why? On Friday, gold closed the week at 1284, only 1 usd from H1/MA200 and H4 down trendline. I decided to stay in, because my entry was far away at 1260 and my position wasn’t in danger. I also thought, that gold could open in Monday above this resistance level and that could give the gold another boost for higher levels. At yesterday evening, USD/JPY open one hour before gold with huge gap down and that move indicated to me, that gold could open higher. But, the gold opened the week also lower at 1280, when I decided to wait for an hour and watch developments for a while, after which I decided to close my position. As you can see now, that was good decision, because gold retreated back at 1274 for now. I don’t like to stay in the position to long, that’s my policy and strategy. +100 pips is a great daily trade and everything above is amaizing. This trade was in +240 pips gain on Friday, but +200 pips at the end is fantastic for me. There is no rules about gain and profit, but if technical picture is not in your favor, close the position and wait for another opportunitie. Trade what you see, not what you think! 😉