DETAILS
TP:
SL:
INITIAL THOUGHTS
Right at 8:30 AM, shot up 17 points. Decided to scalp on the way down for a bit. Lots of LOW and MED impact news with Actual vs Forecast being worse. All of them were:
Philly Fed Business Conditions
Philly Fed CAPEX Index
Philly Fed Employment
Philly Fed New Orders
Philly Fed Prices Paid
Philadelphia Fed Manufacturing Index
Continuing Jobless Claims
Initial Jobless Claims
Jobless Claims 4-week Average
My logic is: when there's spikes in price action, the recoil is usually instant. Maybe not for the full force of the move, but there's still a rebound. I capitalize on that.
UPDATE
Soon as I entered it went to +$60 in no time. Then hovered around +$200 for a bit. Dipped back down to -$100 and then slowly made its way to +$500.
REFLECTION
Jumped out at +$640 because the two TP of $750 and $1100 didn't look like they were going to be hit. 20 min trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-07-21 09:05:43 | XAUUSD | sell | $1705.73 | short |
2022-07-21 09:25:26 | XAUUSD | buy | $1699.24 | 0 |
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