My FOMC 200 pips golden trade
Too bad that the price didn’t reach my target, which was only several pips below the lowest price. To be honest, I was followed the move all day and I was sure that the price will hit my TP, but it’s not. Gold found the bottom at 1244, after wich the price returned up, as I see at the first resistance to 1252 for now. What was the reason to open this short? Despite this ascending triangle which I drawed, this was the clear technical level for short entry in my point of view. You can check at you’re platforms, the MA’s 100 and 200 was all over the charts at the same level at 1273/74, at M15, M30, H1 and MA100 at H4. It was a strong indication for me to try this. Sure that the FOMC minutes was important for direction, but I didn’t expect anything bad for the US dollar, what you can see in my EUR/USD FOMC analysis from yesterday. Single trade with more then 200 pips gain and lowest possible risk is fantastic trade on gold, wich can be made only by the best forex traders. Great entry, 21 hours of patience true the technical levels, careful and accurate protection of profits in two steps and almost hit my determinated target. It can’t be better for my confidence.