Some of you may wonder, what made this gold price fluctuating heavily. In a day candle, we could profit USD 500 or loss USD 500.
I was trading currencies before fully shift my focus on Gold.
Sometimes, Technical analysis and market structure analysis do not make any more sense or logic on the chart. Wonder why?
From my past experience, one thing which is to consider a solid reason, Gold price relates to US dollar ( US economy ). Do your own research. Whenever inflation high in the US, which means the dollar losing its pride, MR Gold will walk tall with a high head, and vise versa.
XAU/USD is a war zone market. even with the smallest lot 0.01, we may end up profit or loss hundreds or even thousand dollars.
I do not find by drawing lines will give me a clear trading plan to enter or exit the gold market.
For me, i heavily rely on US economy news before plan to enter.
I hope, you all will spend some time to find this advice legitimate or not.
Trade slow and steady. Value your money and don't get fooled by the shining of the Gold.
I was trading currencies before fully shift my focus on Gold.
Sometimes, Technical analysis and market structure analysis do not make any more sense or logic on the chart. Wonder why?
From my past experience, one thing which is to consider a solid reason, Gold price relates to US dollar ( US economy ). Do your own research. Whenever inflation high in the US, which means the dollar losing its pride, MR Gold will walk tall with a high head, and vise versa.
XAU/USD is a war zone market. even with the smallest lot 0.01, we may end up profit or loss hundreds or even thousand dollars.
I do not find by drawing lines will give me a clear trading plan to enter or exit the gold market.
For me, i heavily rely on US economy news before plan to enter.
I hope, you all will spend some time to find this advice legitimate or not.
Trade slow and steady. Value your money and don't get fooled by the shining of the Gold.