LONG (BUY)
Gold (XAU/USD) 
HIGH Volatility; 2/3 position sizeTP
@: 4614.49
ALREADY CLOSED ~near 4565 Recommended Entry
near/below 4550โบ Warshโs speech may be surprising to some analysts, but it is exactly in line with my expectations. Warsh is trying to sound more hawkish and show that both he and the Fed are focused on keeping inflation under control. He is at least hinting at rate hikes. At the same time, however, he is once again providing no clear forward guidance. Yes, he acknowledges that inflation needs to fall further and that inflation has recently stopped cooling significantly. Warsh quite clearly wants to be perceived as hawkish here.
โบ โWhen policymakers make quasi-commitments on interest rates through the cycle, we inhibit our own freedom to make the right calls when itโs time to decide.โ This means that Warsh will continue his current stance of a more โquietโ (= silent) Fed and react more strongly to incoming data. In reality, this means the Fed will remain data-dependent and continue with a wait-and-see approach.
โบ As expected, the USD has risen. We are now securing profits with our USD/JPY.
USD/JPY ๐ SL ๐ @: 159.809 | TP
@: 159.933 TP ALREADY TRIGGERED OR CLOSE NOW
@: near/above 159.920โบ We can already buy the dip in Gold here, but for now we are trading with a smaller position size. Gold remains bullish. Ultimately, the market will not really be any wiser after this speech than it was before, even though the market is currently raising expectations for rate hikes.
โบ Our previous gold position hit TP
๐ธ in elevated volatility just before the start of Warsh's speech. It was our 40th successful gold/silver trade in a row.Gold (XAU/USD): Multiply your โstandard (EUR/USD)โ position size by approx. 0.10โ0.12x (10%โ12%) - 2/3 position size
position code / 100% Transparency - 26082804A
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We found a great gold entry during Warsh's speech and already closed in profit. Gold fell now as the market sees a higher chance for rate hikes from here.
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