Pre-Trade Checklist

1.1 Economic Calendar

• Check for major economic events, especially those impacting the US dollar, such as:

  • Non-Farm Payrolls (NFP)

  • Federal Reserve (FOMC) meetings

  • Inflation data (CPI, PPI)

  • GDP reports

• Avoid opening new trades 30 minutes before or after major announcements to prevent unnecessary volatility.

1.2 Currency Meter

• Analyze the strength of the USD relative to other currencies:

  • Strong USD → Potential bearish XAUUSD.

  • Weak USD → Potential bullish XAUUSD.

• Use AUD strength as an indirect indicator, as gold correlates positively with the Australian dollar.

1.3 Market Sentiment

• Risk-On Environment (e.g., rising stock markets): Likely bearish for gold.

• Risk-Off Environment (e.g., geopolitical tensions): Likely bullish for gold.

• Monitor risk sentiment through indices like VIX (Volatility Index) or news headlines.