📌 Overview
Today's 10am/11am NY session did not provide a valid trading opportunity based on my execution model.
Although price continued moving lower, the market had already expanded significantly before the NY session opened, leaving limited opportunities for a quality entry.
🧭 Market Context
Before the NY session:
- Gold was already trading in a strong bearish trend.
- Multiple bearish legs had already delivered significant expansion.
- Price remained far below recent structure highs.
- No meaningful retracement into a premium FVG zone occurred.
This suggested that chasing shorts carried unfavorable risk-to-reward.
⚠️ Why No Trade?
My plan required:
✅ Pullback into a valid M5 FVG
✅ Reaction from the zone
✅ Confirmation through lower timeframe price action
However:
❌ Price never retraced into the marked M5 FVG zone.
❌ No IFVG or displacement setup formed inside the zone.
❌ Market continued selling without offering a clean entry.
Without a retracement, there was no reason to force a trade.
📰 High Impact News
Today's session also included major USD news at 8:30 AM New York time:
- Non-Farm Payrolls (NFP)
- Unemployment Rate
- Average Hourly Earnings
These releases often create:
- Increased volatility
- Large spreads
- Unpredictable price spikes
As a result, patience was even more important than usual.
🧠 Trading Lesson
A good trader is not measured by how many trades are taken.
A good trader is measured by the quality of trades taken.
Sometimes the best trade is:
👉 No trade.
Protecting capital and waiting for price to return to your area of interest is part of professional trading.
🔑 Key Takeaway
Today's market was already heavily expanded to the downside before NY open.
Without a pullback into the M5 FVG zone and with high-impact news approaching, there was no high-probability setup according to my rules.
No setup = No trade.
⚠️ Disclaimer:
This content is for educational purposes only and does not constitute financial advice. Trading involves risk, and past performance does not guarantee future results.
I currently use the prop firm below for my trading and evaluations.
It aligns well with my NY session approach and execution style.
If you want to explore it further, you can check it below:
FundingPips — Prop Firm
Used in my live trading & evaluations
Used for analysis, structure, and execution planning
){kind=link}