Gold trading Strategy for 3rd January 2025
Trading Strategy
Buy Condition Entry Point:
Buy above the high of the 15-minute candle that closes above 2662. Ensure that the candle has fully closed before entering the trade to confirm the breakout.
Targets: Target 1: 2670, Target 2: 2680, Target 3: 2699
Stop-Loss: Place your stop-loss below the low of the breakout candle or below a recent support level, depending on your risk tolerance.
Sell Condition Entry Point:
Sell below the low of the 1-hour candle that closes below 2647. Ensure that the candle has fully closed before entering the trade to confirm the breakdown.
Targets: Target 1: 2636, Target 2: 2627, Target 3: 2621
Stop-Loss: Place your stop-loss above the high of the breakdown candle or above a recent resistance level, depending on your risk tolerance.
Important Notes on Stop-Loss and Trailing Stop-Loss:
Protect Your Capital:
Always use a stop-loss to protect your trading capital from significant losses. Never trade without a predetermined stop-loss level.
Secure Profits:
As the trade moves in your favor and reaches the first target, consider moving your stop-loss to breakeven. For additional targets, use a trailing stop-loss to lock in profits while allowing the trade to run further. This can be done manually or by setting a dynamic trailing stop in your trading platform.
Disclaimer:
Risk of Trading:
Trading in financial markets involves significant risk and may not be suitable for all investors. Losses can exceed your initial investment.
Educational Purposes Only:
The strategies provided above are intended for educational purposes and should not be interpreted as financial or investment advice.
No Guarantees:
Past performance is not indicative of future results. There is no guarantee that the strategies mentioned will result in profits or avoid losses.
Due Diligence Required:
Always perform your own analysis before entering a trade. It is essential to understand the technical and fundamental factors influencing the market.
Seek Professional Advice:
Consult with a licensed financial advisor or trading professional to ensure your trading activities align with your financial goals and risk tolerance.
Use Risk Capital:
Only trade with funds you can afford to lose. Avoid using money allocated for essential living expenses.
Buy Condition Entry Point:
Buy above the high of the 15-minute candle that closes above 2662. Ensure that the candle has fully closed before entering the trade to confirm the breakout.
Targets: Target 1: 2670, Target 2: 2680, Target 3: 2699
Stop-Loss: Place your stop-loss below the low of the breakout candle or below a recent support level, depending on your risk tolerance.
Sell Condition Entry Point:
Sell below the low of the 1-hour candle that closes below 2647. Ensure that the candle has fully closed before entering the trade to confirm the breakdown.
Targets: Target 1: 2636, Target 2: 2627, Target 3: 2621
Stop-Loss: Place your stop-loss above the high of the breakdown candle or above a recent resistance level, depending on your risk tolerance.
Important Notes on Stop-Loss and Trailing Stop-Loss:
Protect Your Capital:
Always use a stop-loss to protect your trading capital from significant losses. Never trade without a predetermined stop-loss level.
Secure Profits:
As the trade moves in your favor and reaches the first target, consider moving your stop-loss to breakeven. For additional targets, use a trailing stop-loss to lock in profits while allowing the trade to run further. This can be done manually or by setting a dynamic trailing stop in your trading platform.
Disclaimer:
Risk of Trading:
Trading in financial markets involves significant risk and may not be suitable for all investors. Losses can exceed your initial investment.
Educational Purposes Only:
The strategies provided above are intended for educational purposes and should not be interpreted as financial or investment advice.
No Guarantees:
Past performance is not indicative of future results. There is no guarantee that the strategies mentioned will result in profits or avoid losses.
Due Diligence Required:
Always perform your own analysis before entering a trade. It is essential to understand the technical and fundamental factors influencing the market.
Seek Professional Advice:
Consult with a licensed financial advisor or trading professional to ensure your trading activities align with your financial goals and risk tolerance.
Use Risk Capital:
Only trade with funds you can afford to lose. Avoid using money allocated for essential living expenses.
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.