I wait for the spike to finish and for a small balance to form — overlapping bars, clearer high and low, less panic. Break and shallow retest of that micro-range, aligned with the higher M5 bias, is the scalp. Breaking both ways in succession means stand aside; that is chop wearing a breakout costume.
Time stop is short — these are not afternoon holds. I also refuse the micro-range break if a metals-moving print is imminent; settling then restarting into news is a different game.
The edge, if there is one, is mostly sitting on your hands during the fireworks.
If the micro-range never forms and gold just trends, I do not invent a box — continuation pullback is a different card.
- Do you trade the post-spike micro-range on gold?
- How do you decide the spike is "settled"?
