Trade Detail

osasumwen's XAUUSD Trade 0.53

The first transaction is an (Entry). Please switch trade type to be Long or swith all transaction types.

Trade Details

Published: Feb. 13, 2024, 1:51 p.m.

Status: CLOSED

Portfolio(s): 50k Funded,

Broker: None

Asset: Forex

Symbol: XAUUSD

Type: Short

Pattern(s)

Featured Image / Proof

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Stats

Entry CPU	Exit CPU	Fees	Max Amount	Max Cost	P&L %	P&L $	P&L With Fees
2,018.41	2,019.48	0.0	0.5	1,009.74	0.05%	0.53	0.53

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Notes

Use of top-down analysis. Price was noticed to be making its way down on the Daily timeframe. Overall movement was seeking a down-trend movement, so looking for sales session price had no clear movement just creating liquidity on both the top side and bottom side. London session and price had swept the top side liquidity during the pre-London session. I waited for Newyork session to kick in. CPI news was kicking in.

CPI-

Measures	Change in the price of goods and services purchased by consumers, excluding food and energy;
Usual Effect	'Actual' greater than 'Forecast' is good for currency;
Frequency	Released monthly, about 16 days after the month ends;
Next Release	Mar 12, 2024
FF Notes	Food and energy prices account for about a quarter of CPI, but they tend to be very volatile and distort the underlying trend. The Federal Open Market Committee usually pays more attention to the Core data - so do traders;
Why Traders Care	Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;