Sometime your idea doesn't work. XAUUSD/GC/MGC
Sometime your Idea doesn't work, so instead of force trade
you sit back and observe the price.
There were two ideas to play today but none of them worked out so didn't trade.
Plan A - 5am PST - Pre NYSE inflation data will come good for GC and price will go up and then come back to yesterday's close. 5am candle close bearish
6am PST - Go long
Plan B - 5am PST - Pre NYSE inflation data will come good for GC and price will close bullish
6am PST - Price will retrace back to yesterday's high and closed weak bearish
7am PST - Go Long
you sit back and observe the price.
There were two ideas to play today but none of them worked out so didn't trade.
Plan A - 5am PST - Pre NYSE inflation data will come good for GC and price will go up and then come back to yesterday's close. 5am candle close bearish
6am PST - Go long
Plan B - 5am PST - Pre NYSE inflation data will come good for GC and price will close bullish
6am PST - Price will retrace back to yesterday's high and closed weak bearish
7am PST - Go Long