XAUUSD Daily: 3 Things I Watch Before 8am GMT
Before I place a single trade on gold each day, I run through exactly three checks. Takes about 2 minutes. Here’s today’s snapshot:
1. Where did Asia leave the wicks?Overnight low (00:00–06:00 GMT) was $X, high was $Y. If London doesn’t break one of those within the first hour, I’m looking for a fade back into the range.
2. What’s the 1-hour ATR doing compared to yesterday?If ATR is contracting, I tighten my stop and lower my lot size. If expanding, I get more selective – false breaks multiply when volatility spikes.
3. Is there any high-impact news within 2 hours?Red folder event at 13:30 GMT today (US data). That means I want to be flat or very light by 13:15. No exceptions.
Today’s quick tip:Watch the 08:00 GMT open candle on M5. If gold moves more than $3 in the first 5 minutes of London, wait for the retest of the open level before considering a direction. Patience saves pips.
What’s your morning routine for gold? Curious how others approach the open.
