Mine: let the first spike happen without me. Mark the extreme. If price reclaims back through the pre-spike level and holds on M1 or M5, I may take the reversal scalp with tight risk. If the spike holds and continues, I wait for a proper pullback — I do not chase the fakeout in either direction emotionally, and I do not average into the spike because "gold always comes back".
I flat for tier-1 metals-moving news regardless of how pretty the fakeout looks. I also give the open a few minutes to show its hand; clicking in the first burst has been a tax.
Process note: fakeout fades and continuation pullbacks are different cards. Mixing them mid-spike is how the journal gets messy.
- Fade the fakeout, wait for pullback, or stand aside entirely at gold’s London open?
- How many minutes do you give the open before engaging?
