Trading gold on CPI night has been good to me lately. Betting against the initial pump or dump leading into it, having long orders below current price and shorts above has served me well. No manipulation.... lol. That said, if something becomes predictable the pattern is sure to change eventually.
I'm already in a long position so i'll only add some more lowball longs though I have a feeling POG won't react much tonight...
Not only is gold already fairly well sold down considering the macro logic suggesting this shouldn't be the case, but I see a stalemate now on the DXY and POG waiting for the FED to either announce or deny tapering.
For that reason, even if the inflation number is high I don't expect gold to bounce - as those who have positioned this setup here are likely to see that as even more reason the FED will announce taper/rate changes to bring the inflation down.
I'm betting they are wrong however, may take a cpl more weeks but they can't hold these positions forever and likely be forced to abandon betting against the fed's balance sheet amid continued abysmal economic data plainly stating that any rate or taper change would simply crush the markets.
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Trading gold on CPI night has been good to me lately. Betting...
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