I woke up around 11:30pm GMT and first thing was to check the markets. Gold open with a gap up in my direction. Meaning the sentiment is bullish.
it did a little pul back to the previous day close and went back up around 200 pips then all of a sudden it begins to sell'
It sold about 150 pips. Out of fear, i close the trade and the price turns and continues going up.
It went up a little with a lot of volatility and whipsaw.
Trading gold during holidays is not recommended. it makes new all time high and the next minute is a 200 pip sell off.
Well, the lesson i have learnt is to hold your position and sit tight. That is how you make money. Let the trend do the work for you.
I believe it is difficult trying to make money getting in and out of the market.
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