GOLD Trades Idea for Monday 06 May 2024
DISCLAIMER
This is not financial advice; you are trading at your own risk. Never risk more than you are willing to lose.
Gold/USD (XAUUSD) Ideas For 06 May 2024
BUY LIMIT Order: $2293.91
Stop Loss: $2277.09
Take Profit 1: $2310.47
Take Profit 2: $2332.50
Risk per trade: 0.5%.
MT4/5 trade expiration: Today
100% mechanical strategy, zero analysis, zero guesswork. Rise and repeat day in and day out.
Reason
The first-hour candlestick closes above 21 EMA, hence our bias is to BUY. We will place 1x BUY LIMIT orders at 38.20%, both stop loss at 0%, take profit 1 at 100% and take profit 2 at 127.20%
Trade Review For 01 May 2024
Our 01 May trade managed to hit take profit 1 but hit our stop loss at break even, still a good win overall!
Trade Review For 02 May 2024
Our Thursday trade also ends at take profit 1, before reversing almost immediately. Fortunately, I setup a price alert on the Tradingview app to alert me to take profit and shift stop loss to breakeven. If not this trade could have been in a loss.
Trade Review For 02 May 2024
Friday was an important day because of FOMC US data. We trigger in our trade and hit take profit 1 all within an hour. This trade is currently running risk free now! Let's hope this trade can hit final take profit!
May 2024 Trade Results
P&L for the month: +1.5R
01 May: +0.5R
02 May: +0.5R
03 May: +0.5R + Running
06 May: Pending
The year 2024 Trade Results
January: +2.6R
February: +3.35R
March: -2.90R
April: -7.75R
This is not financial advice; you are trading at your own risk. Never risk more than you are willing to lose.
Gold/USD (XAUUSD) Ideas For 06 May 2024
BUY LIMIT Order: $2293.91
Stop Loss: $2277.09
Take Profit 1: $2310.47
Take Profit 2: $2332.50
Risk per trade: 0.5%.
MT4/5 trade expiration: Today
100% mechanical strategy, zero analysis, zero guesswork. Rise and repeat day in and day out.
Reason
The first-hour candlestick closes above 21 EMA, hence our bias is to BUY. We will place 1x BUY LIMIT orders at 38.20%, both stop loss at 0%, take profit 1 at 100% and take profit 2 at 127.20%
Trade Review For 01 May 2024
Our 01 May trade managed to hit take profit 1 but hit our stop loss at break even, still a good win overall!
Trade Review For 02 May 2024
Our Thursday trade also ends at take profit 1, before reversing almost immediately. Fortunately, I setup a price alert on the Tradingview app to alert me to take profit and shift stop loss to breakeven. If not this trade could have been in a loss.
Trade Review For 02 May 2024
Friday was an important day because of FOMC US data. We trigger in our trade and hit take profit 1 all within an hour. This trade is currently running risk free now! Let's hope this trade can hit final take profit!
May 2024 Trade Results
P&L for the month: +1.5R
01 May: +0.5R
02 May: +0.5R
03 May: +0.5R + Running
06 May: Pending
The year 2024 Trade Results
January: +2.6R
February: +3.35R
March: -2.90R
April: -7.75R
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.