Dislikedone of my worst trading days ever, i lost 2 months of profit in just 1 day, my strategy is usually based on sell on overbough and selloff zone to trade the retracements, today move totally blew my system of trading and kept me adding shorts till i had to closed them at $1315 with a big loss, Gold move was really fast n furious to the upside, in my mind i was saying, if yesterday after FED gold did not move, bears are still in play but how wrong i was. i have to learn from today huge mistake. Ignored
I was taken by surprised too by the strong bullish move; lucky I was not completely wrong today, because I did predicted the on London open Gold will go up hence I went long pretty much on the right time and hit my TP 80 pips up. But then shortly after that I opened a shot position thinking it was overbought, all indicators were overbought. That is when I got burned handing back my earlier profit plus more. 350++ pips moves are quite rear but the do happen every now and later. ...
Think outside the box, opposite what they want you to think.