GOLD/USD

A trade on the NAS10 a financial index that tracks the 100 largest non financial company on the Nasdaq stock exchange, such as Apple and Microsoft is simply buying the index with expectation. that its overall value will rise over time allowing you to sell it later for a profit

This gold is not easy to trade on

😂

Just took a long on gold after price broke out of the pre-ny range and is reversing back into it

SL hit

and price still seems to be going upwards

After stopping me out, price later moved to TP target

If only you had placed your SL a wider distance away

The thing with gold is the value of the stop loss is always so huge, small distance you will see 100 pips

Bought Gold at 4045 SL at 4041.

Reason for the buy is that a bullish engulfing formed on a previous days NY session high

Got stopped out but I am going long again

TP reached I am closing out for $46 profit

You now trade xauusd during NY session

Sweet strategy

I am getting ready to trade gold by 1 pm UTC+1 when the New York session kicks off

I will be watching these key levels

The New York session has started by 1 pm but I have boxed out the Pre-NY hour of 12 - 1 pm. Now I will wait for a freakout from the yellow box before deciding the direction to trade

The breakout has happened on the M5 timeframe

Breakout as seen on 5 minute timeframe

4052 is a key level so a break/close above it will mean I buy and a rejection at 4052 will mean I sell