GOLD Trading Strategy for 04th Feb 2025 GOLD Trading Strategy:
Buy Strategy:
Entry Point: Buy above the high of the 15-minute candle that closes above 2832
Targets:
First Target: 2840
Second Target: 2851
Third Target: 2860
Stop-Loss: The stop-loss will be set at the low of the candle that breaks out above 2832.
Sell Strategy:
Entry Point: Sell below the low of the 15-minute candle that closes below 2796
Targets:
First Target: 2790
Second Target: 2781
Third Target: 2772
Stop-Loss: The stop-loss will be set at the high of the candle that breaks down below 2796.
Time Frame:
15-Minute Time Frame: This strategy is based on the 15-minute time frame, allowing for shorter-term trading opportunities and quicker responses to market movements.
Important Points:
Stop-Loss Orders: Always use stop-loss orders to manage risk and protect your capital.
Monitor Market Conditions: Continuously monitor market conditions and news that could impact the GOLD price.
Technical Indicators: Consider using technical indicators and chart patterns to confirm entry and exit points.
Disclaimer: Please conduct your own research and consult a professional financial advisor before making any investment decisions. Trading and investing involve significant risk of loss and are not suitable for every investor.
