Good day, dear traders! Congratulations to those who survived these difficult days. Unfortunately, the storm is just beginning. I would like to mention one important event today. An idea that I worked out in my video analysis on Friday, March 13: /en/analysis/24691...
The idea was to work out a large auction for gold, with a lower limit on levels:
Thus, on March 12 and 13, buyers were thrown out of the market.
All this happened on the incredible strengthening of the dollar during the US sessions (shown in green):
Tonight, the Fed cut its key interest rate to almost zero.
Huge supply of the dollar were also advanced into the market, as well as another decrease in the currency's interest rate. I would not be surprised if this week's volatility is higher than the previous one. I recommend reducing trading volumes and rejecting only the most working and proven models.
Good luck in trading and control your risks!
