GOLD Trades Idea for Friday 31 May 2024

31 May

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 31 May 2024
BUY LIMIT Order: $2333.83
Stop Loss: $2322.41
Take Profit 1: $2345.00
Take Profit 2: $2359.86

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 30 May 2024
Our trade got triggered during the New York session. And we manage to hit take profit 1, let's continue to hold until take profit 2! I shifted stop loss to break even to lower risk.

P&L for the month: +1.2R
01 May: +0.5R
02 May: +0.5R
03 May: +0.5R
06 May: +1.6R
09 May: +0.5R
13 May: -1R
14 May: -1R
17 May: -1R
21 May: -1R
22 May: +1.6R
28 May: +0.5R
29 May: -1R
30 May: +0.5R

The year 2024 Trade Results
January: +2.6R
February: -1.3R
March: +0.7R
April: +4.10R