If the gold price holds above 2646, I would consider a BUY. Set the Stop Loss at 2637 and aim for the First Take Profit target at 2656, with the Second Take Profit target at 2666.
If the gold price breaks below 2632, I would consider a SELL. Set the Stop Loss at 2637 and aim for the First Take Profit target at 2624, with the Second Take Profit target at 2613.
This is my basic concept for larger time intervals. However, I usually trade on 5-minute or 1-minute intervals, using tight Stop Losses and targeting a $1 change in the gold price. Let’s see how my account performs!
Starting balance: 203.2
If the gold price breaks below 2632, I would consider a SELL. Set the Stop Loss at 2637 and aim for the First Take Profit target at 2624, with the Second Take Profit target at 2613.
This is my basic concept for larger time intervals. However, I usually trade on 5-minute or 1-minute intervals, using tight Stop Losses and targeting a $1 change in the gold price. Let’s see how my account performs!
Starting balance: 203.2
Trade closed: target reached
What a great move! The target was reached, and the concept proved correct.Unfortunately, I won’t be able to trade this week or next week as I have four final exams to tackle. I’ll be back after finishing my exams. If I spot any potential opportunities, I’ll continue sharing my ideas and analysis here.
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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.
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.