GOLD NFP Possible SELLS - I feel like buys are too OBVIOUS
Hey guys what's up, Brandon here..hope you are having a great day
SO I wanna briefly touch on gold, I have had quite a busy week and I barely got to trade at all this week, but I figured let me make some time to cover what is likely for NFP
That being said, I feel like SELLS are more possible for NFP on GOLD specifically as the buy in my opinion feels like a trap, the question I keep coming back too is why would the dealer give you such a good opportunity to buy - it doesn't make sense!
That being said personally I do not trade news events anymore, I stopped that a + ago as they are way to volatile for consistent trading, you could be the best trader in the world, those news events are crazy and I personally advise staying away (trading at least) - you can however analyze for a news event - I find that to be quite fun and engaging.
I think gold overall over the last few weeks will be trying to psych out the masses as well - as it has been selling for so long, most traders may have the idea that - it has to go back up as its been selling for too long. I do not believe this, gravity doesn't affect the market - if it is selling, unless there is a clear reversal that suggests a buy, we continue to sell.
Let us see what it does, I hope you have a great day and weekend..if I get time I will do an update video with if I was wrong or right
If you are trading this NFP, please please please, at the very least practice proper risk management
Godspeed guys
:)
SO I wanna briefly touch on gold, I have had quite a busy week and I barely got to trade at all this week, but I figured let me make some time to cover what is likely for NFP
That being said, I feel like SELLS are more possible for NFP on GOLD specifically as the buy in my opinion feels like a trap, the question I keep coming back too is why would the dealer give you such a good opportunity to buy - it doesn't make sense!
That being said personally I do not trade news events anymore, I stopped that a + ago as they are way to volatile for consistent trading, you could be the best trader in the world, those news events are crazy and I personally advise staying away (trading at least) - you can however analyze for a news event - I find that to be quite fun and engaging.
I think gold overall over the last few weeks will be trying to psych out the masses as well - as it has been selling for so long, most traders may have the idea that - it has to go back up as its been selling for too long. I do not believe this, gravity doesn't affect the market - if it is selling, unless there is a clear reversal that suggests a buy, we continue to sell.
Let us see what it does, I hope you have a great day and weekend..if I get time I will do an update video with if I was wrong or right
If you are trading this NFP, please please please, at the very least practice proper risk management
Godspeed guys
:)