The Gold Methodolgy Weekly Review

This week was an unusual week in the Trade room for The Gold Method Ichimoku, as World events affected the currency markets.

Here is a day by day breakdown:

Monday, we took a Type 2 trade on GBPAUD (some took GBPNZD), which did not work out. We then took a Type 1 pullback trade on GBPCHF, which also did not work out. Our third trade was the charm as it ran to it’s 60 pip profit target and with a healthy 3-1 RRR, put most of the traders in the room in positive territory for day. Unfortunately, and uncharacteristically of myself, I bailed early.

Tuesday, we had a very nice Type 1 Break out trade on GBPCAD which was good for 30 pips.

Wednesday, we were all set to take a Type MA trade on GBPCAD, when the BoE’s Carney declared “that the major central banks have limited room to combat a downturn”. While that killed our trad set-up, at least he was nice enough to do it before we got it. So no harm no foul, ie no trade. I posted a video recap on you-tube: https://youtu.be/bHdyq0Gjk-s

Thursday, we had another Type MA trade setting up on GBPCHF, when the Fed’s Clarida stated “No reason to expect this expansion cannot continue” (which is the opposite of what Carney said the day before and reiterated earlier in the day (Thursday). This changed the market dynamics and invalidated our trade set-up. So, another day without a trade. However, you can never discount the benefit of NOT causing damage to your account on a bad set-up.

Friday, we do not trade on Non-Farm Friday

Sincerely,

Allen Gold

Since I have had several more traders inquire about the book and I hate to turn people away, if you are interested in the book, please send me an email at FXGOLD54@gmail.com