Trading on Fundamentals - Daily update

Morning Market Update – Monday

Good morning everyone, and welcome to a new trading week!
Let's start with Gold.

Gold Outlook

As mentioned in my Sunday update, due to the intensified headlines surrounding the situation between Iran and the U.S., Gold was expected to open lower, and that is exactly what happened.
From a technical perspective, we were also watching the 1-hour trendline. The plan was that if Gold rejected this trendline, we could see another bearish move. The market followed the technical structure and moved lower as expected.
I am currently watching Gold closely and waiting for the ADR exhaustion before taking any new trades. I already took a few short positions earlier, which have been closed with profit.
For now, patience is key. I will wait for the right setup rather than forcing trades.

Forex Market Update
- USD/JPY: The pair has shown strong bullish momentum today and has already moved around 53 pips, almost reaching its ADR. There may be a small scalping opportunity if the setup appears.
- EUR/USD: No clear setup at the moment, so I am staying away.
- GBP/JPY: A short opportunity is available, and I have already taken this trade. The setup has also been shared on the Telegram Signal Channel.


Other Market Updates
- Bitcoin: BTC/USD experienced a sharp drop, falling by around $1,000. Although we don't trade Bitcoin, it's always good to monitor the broader market sentiment.
- Oil: Currently trading around $74 per barrel.


Fundamental Outlook
Since today is Monday, there are no major economic news releases scheduled.
However, from Tuesday onwards, we have a much busier economic calendar, which should bring more volatility and trading opportunities across Gold and forex pairs.


My plan for today:
- Wait for ADR exhaustion before entering Gold trades.
- Focus mainly on scalping opportunities.
- Monitor USD/JPY and GBP/JPY for short-term setups.
- Avoid forcing trades in a low-news environment.


A new week has started, so stay patient, protect your capital, and wait for quality opportunities.
Have a great trading day everyone!