To create a more refined predictive analysis for gold prices, incorporating a specific target price (TP) of $2288 and a risk-to-reward ratio (R
) of 1:3, we'll follow these steps:
Model Refinement: Adjust the model or its predictions to better align with financial strategy goals, specifically targeting the $2288 price level.
Risk-Reward Analysis: Set up a trading strategy that maintains a 1:3 risk-to-reward ratio. This implies for every dollar risked, three dollars are expected as a reward. This will help in setting appropriate stop-loss and take-profit levels.
Sell Zone Entry: Incorporate the provided sell zone of $2308 to $2315 to evaluate when might be an optimal time to sell based on the predicted market movement.
Stop-Loss Calculation: Using the risk-reward ratio, calculate the stop-loss position. If the target price (TP) is $2288, a 1:3 ratio means that the stop-loss should be set at a price that is one third the distance to the TP below the entry point.
) of 1:3, we'll follow these steps:
Model Refinement: Adjust the model or its predictions to better align with financial strategy goals, specifically targeting the $2288 price level.
Risk-Reward Analysis: Set up a trading strategy that maintains a 1:3 risk-to-reward ratio. This implies for every dollar risked, three dollars are expected as a reward. This will help in setting appropriate stop-loss and take-profit levels.
Sell Zone Entry: Incorporate the provided sell zone of $2308 to $2315 to evaluate when might be an optimal time to sell based on the predicted market movement.
Stop-Loss Calculation: Using the risk-reward ratio, calculate the stop-loss position. If the target price (TP) is $2288, a 1:3 ratio means that the stop-loss should be set at a price that is one third the distance to the TP below the entry point.
Comment:
have 80 pips from selling 2308.
