Minds

Bitcoin / United States Dollar forum

Jun 11

My expectations as we head towards FOMC.

Jun 10

Sold Gold from 2395 levels, Trade in BE and my TP is 2284.

My trade advice is Buy at 2384.4 levels and Sell at 2322.5 levels

🔸 Gold Buy Limit: 2384.4

- **Stop Loss (SL): 2374**
- **Take Profit (TP) Targets:**
- **TP1:** 2386
- **TP2:** 2390
- **TP3:** 2394 ++

🔸 **Reason for Entry:** A pending buy limit order at 2384.4, anticipating a bounce from this level based on previous support and resistance.

🔸 Gold Sell Limit: 2322.5

- Stop Loss (SL): 2333
- Take Profit (TP) Targets:
- TP1: 2320
- TP2: 2318
- TP3: 2315 to 2310

🔸 **Important Note:** Don't wait for all take profit targets to be hit. Consider taking partial profits as soon as reasonable gains are achieved.

🔸 **Risk Management Rules:**

1. **Position Sizing:** Only risk a small percentage of your trading capital on each trade, typically no more than 1-2%.
2. **Use Stop Losses:** Always set a stop loss to limit potential losses in case the trade goes against you.
3. **Stick to Your Plan:** Follow your trading plan and avoid making impulsive decisions based on emotions.

Jun 9

Trade Suggestion: BTCUSD Sell Limit

**Entry:** Consider initiating a sell limit order within the range of $69,785 to $69,840.

**Stop Loss (SL):** It is advisable to set the stop-loss at $70,150 to manage risk efficiently.

**Take Profit (TP):**
- Initial Target: $69,650
- Secondary Target: $69,550
- Final Target: $69,250

**Rationale:** This trade opportunity involves strategically positioning a sell limit order within a resistance zone, aiming to capitalize on potential downside movement. The placement of the stop-loss above resistance levels helps mitigate risk.

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It's essential to adjust position sizes according to individual risk tolerance and monitor the trade closely for any developments in market conditions.