XAU USD 1783 to 1794
After identifying strong structure on the 1 hour & 4 hour charts and seeing rejections in those timeframes
I decided that a possible scalp for longs would suffice as todays news was also quite neutral and did not have a large impact on gold.
With the green line representing 1-4 hour support levels, I identified key rejections on the 15 & 30 minute charts and entered longs with profits below the previous trade I’ve posted. Furthermore, high consolidation at 1788 after a strong push upwards from 1783 allowed me to get a key entry in the following trades. The consolidation tied together with DXY (dollar index) therefore drove my decision with continuing long.
Entry: 1783 TP: 1785
1788 —> 1790.88
1790 —> 1792.68
Why are my profit intervals so short?
- I keep my stops always above entry so that I can ensure profits while trading.
While I could have taken possibly 100-120 pips total, the first 2 entries were stopped but in overall profit. I would much rather ensure my investments stability and longevity through consistent growth over time.
A total of 60-65 pips were obtained @ 12-1am EST.
I decided that a possible scalp for longs would suffice as todays news was also quite neutral and did not have a large impact on gold.
With the green line representing 1-4 hour support levels, I identified key rejections on the 15 & 30 minute charts and entered longs with profits below the previous trade I’ve posted. Furthermore, high consolidation at 1788 after a strong push upwards from 1783 allowed me to get a key entry in the following trades. The consolidation tied together with DXY (dollar index) therefore drove my decision with continuing long.
Entry: 1783 TP: 1785
1788 —> 1790.88
1790 —> 1792.68
Why are my profit intervals so short?
- I keep my stops always above entry so that I can ensure profits while trading.
While I could have taken possibly 100-120 pips total, the first 2 entries were stopped but in overall profit. I would much rather ensure my investments stability and longevity through consistent growth over time.
A total of 60-65 pips were obtained @ 12-1am EST.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.