Gold FOMC Outlook

31 janv. 2024

I am expecting a Hawkish FOMC this evening, but at the same time I am not going assume a particular reaction ahead of time and try to trade it based on what I think, but rather be reactive after the data has been released. My plan to trade gold on FOMC has two variations. If gold decides it wants to rise I will be taking a short position from the KL indicated at $2060. If gold dumps on the data the only valid buy for me after the release is to long again from $2000. Stop Losses on both of these will be 65 pips. If either trade is hit the other one will remain valid as a counter trade, provided price reaches those prices again.

Confluences:
Short Position $2060

Key level
61.8% Fibo at 2055

Long Position $2000

Key Level
Trendline 3rd Touch
D100EMA
Psychological Number

31 janv. 2024

Note

Sell side position missed the key level and reacted off the 61.8% Fibonacci drawn from the high to the low. Now looking for the buy off the trendline to retest 2000.
Q1, targeting 2100/2150.

1 févr. 2024

Note

Coming back up to the highs now, if zone is not reach, and price pulls back prior this will be the last time this short zone 2060 will be valid for me personally.

1 févr. 2024

Transaction en cours

1 févr. 2024

Transaction en cours

2060 Short

2 févr. 2024

Trade fermée manuellement

Taking partials here before NFP release on the short.