Pay attention to the miners PA before any event
This is nothing really related to the chart analysis.
Earlier this afternoon, Brainard had her dovish speech which stopped the bear gold for now. I was doing some scalping on JDST (bought in at $25 and sold at $25.5, around 11 am central time) By that time, gold was dropping from 1324-1322, theoretically, $JDST should've rise a bit. But no, both JDST and DUST were stucking there, $JDST even dropped down to $24.5 and almost triggered my SL. It all appears that miners are not buying this drop or they are waiting for the event. Then we all knew that Brainard spoke, gold got boosted.
Besides, if you trade Miners a lot, sometimes miners can be an indicator for the gold PA direction, it happened several times before. Miners acting against gold during the NY and gold follows the miners during the Asia market.
Just saying~~~~
Here's your potato~
Earlier this afternoon, Brainard had her dovish speech which stopped the bear gold for now. I was doing some scalping on JDST (bought in at $25 and sold at $25.5, around 11 am central time) By that time, gold was dropping from 1324-1322, theoretically, $JDST should've rise a bit. But no, both JDST and DUST were stucking there, $JDST even dropped down to $24.5 and almost triggered my SL. It all appears that miners are not buying this drop or they are waiting for the event. Then we all knew that Brainard spoke, gold got boosted.
Besides, if you trade Miners a lot, sometimes miners can be an indicator for the gold PA direction, it happened several times before. Miners acting against gold during the NY and gold follows the miners during the Asia market.
Just saying~~~~
Here's your potato~