A trader takes a sell position on gold, expecting a bearish movement due to a higher time frame block. They wait for news impact to subside before making decisions, and suggest not trying to catch a spike. They secure their trade to avoid slippage during news impact and use an auto block mitigation strategy. The trader has a 50K account with a backup plan of 10 trades, and they emphasize the importance of not making hasty decisions and taking unnecessary risks. They conclude by inviting questions and engagement.

Foreign Smart Trading: Live Trading Session with Gold

Introduction:
Foreign Smart Trading welcomes viewers to another live trading session wherein the expert trader demonstrates their trading strategy for gold, incorporating the use of smart order blocks. In this session, the trader explains the rationale behind taking a sell trade for gold and shares their predictions for the market movement. They also discuss the impact of news on the market and provide insights on how traders can avoid losses during such periods.

Reasons for Taking the Sell Trade:
The trader explains that they have taken a sell trade on gold due to the bearish smart order block that is present in the market. They mention that this block is inside a higher time frame and hence, they are expecting a movement in gold that aligns with their bearish view. This is their primary reason for taking a sell trade on gold.

News Impact on Trading:
The trader mentions that there is news scheduled for the next ten minutes and highlights that this week has been particularly loaded with several news releases. They expect this to continue until the NFP and predict that the market will become more stable and robust after this period. The trader advises viewers to exercise caution during the news impact period and wait for the market to settle before entering any trades.

Market Movement and Smart Trend Indicators:
The trader believes that the current market movement indicates that gold is undervalued, and the smart trend indicators are showing bullish confirmation. Hence, they expect the price to make a small correction before it shoots up again. They mention that they have taken a small risk on gold, considering their predictions for the market movement, and also indicate the presence of a liquidity level that they intend to watch closely before entering or exiting a trade.

Exit Strategies During News Impact:
The trader advises viewers not to enter trades during the active candle of the news impact period. They explain that sometimes the market moves quickly in one direction, leading to stop-hunting, and then reverses its direction, causing losses for traders. Hence, they recommend waiting until the first candle of the news period closes and then making a decision based on the clarity that emerges. The trader also mentions that during news impact, brokers’ slippage can hamper their risk management efforts, leading to unnecessary losses.

Trade Management and Account Strategy:
The trader indicates that they have secured their trades during the live trading session to avoid any further losses. They have a running trade on GBP JPY, and they predict it will hit their break-even point, and they also mention that they prefer using smart order blocks only once. The trader explains that they trade on a 50k account and follow a template that includes ten backup trades. They indicate that they need to win only one of these trades, and thus, they do not want to take unnecessary risks when trading.

Conclusion:
In conclusion, the expert trader shares that they hope viewers have learned something new from the live trading session. They believe that using smart order blocks can help traders make better decisions and avoid losses during news impacts. The trader advises viewers to drop any questions or comments and invites them to join their Telegram group to stay in touch. Finally, they wish viewers a safe and happy Friday until the next video.

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