osasumwen's XAUUSD Trade
0.53
The first transaction is an (Entry). Please switch trade type to be Long or switch all transaction types.
Trade Details
Portfolios:
50k Funded
Performance Metrics
| Entry CPU | Exit CPU | Fees | Max Amount | Max Cost | P&L % | P&L $ |
|---|---|---|---|---|---|---|
| 2,018.41 | 2,019.48 | $0.00 | 0.5 | $1,009.74 | 0.05% | $0.53 |
Transactions
2 entries| Date | Side | Amount | Price | Commission | Reg Fee |
|---|---|---|---|---|---|
| Feb 14, 2024 13:51:16 | Entry | 0.5 | $2,018.41 | $0.00 | $0.00 |
| Feb 14, 2024 13:51:17 | Exit | 0.5 | $2,019.48 | $0.00 | $0.00 |
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Auto-generated Chart BETA
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Exit (Sell/Cover)
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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; |
With the news information, my bias was that XAUUSD would sell. I sold the market and my theory was correct
