I'm considering a buy position on XAU/USD at 3308 with a target of 3450. Here's a quick breakdown:
Trade Overview:
Entry (Buy): 3308
Target (Take Profit): 3450
Potential Upside: 142 pips/points
Considerations:
1. Stop Loss: Always define your risk. A common SL could be 50–100 points below entry depending on your strategy.
2. Risk-Reward Ratio:
With a target of 3450 and SL of 100 points, your R:R = 142:100 = 1.42:1, which is reasonable.
3. Trend Confirmation: Check the 4H or Daily chart for bullish confirmation (higher highs/lows, support zone near 3300).
4. Fundamentals: XAU/USD reacts strongly to:
US Dollar strength/weakness
Inflation data & Fed policy
Geopolitical risk
Trade Overview:
Entry (Buy): 3308
Target (Take Profit): 3450
Potential Upside: 142 pips/points
Considerations:
1. Stop Loss: Always define your risk. A common SL could be 50–100 points below entry depending on your strategy.
2. Risk-Reward Ratio:
With a target of 3450 and SL of 100 points, your R:R = 142:100 = 1.42:1, which is reasonable.
3. Trend Confirmation: Check the 4H or Daily chart for bullish confirmation (higher highs/lows, support zone near 3300).
4. Fundamentals: XAU/USD reacts strongly to:
US Dollar strength/weakness
Inflation data & Fed policy
Geopolitical risk
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.