why did I lose money in this trade?
Instrument- XAU/USD
Date - 25th March 2026
Session - London
Amount Lost - $30
Direction - Buy
So, yeah, I lost money trading gold around the period with highlighted in white on the chart. I would appreciate your feedback on why you think I lost the trade and what you would have done differently. Please all replies should come with images so it looks sensible.
@weilo I kept buying at the black arrows where price rejected but each time I did, price came back and I had to close the trades
For a proper investigation we may need to look at the higher timeframes
Gold has been bearish for a while now . Definitely you will get buy trades but they shouldn’t be held for long .
For instance, last week closed with a breakout to the downside on the daily timeframe signaling the sell continuation. I therefore believe it’s wise to keep looking for sell entries until price proves otherwise.
Gold has been bearish for a while now . Definitely you will get buy trades but they shouldn’t be held for long .
For instance, last week closed with a breakout to the downside on the daily timeframe signaling the sell continuation. I therefore believe it’s wise to keep looking for sell entries until price proves otherwise.
Okay thanks for contributing, still waiting for come people to contribute.
Okay thanks for contributing, still waiting for come people to contribute.
You are welcome
Instrument- XAU/USD
Date - 25th March 2026
Session - London
Amount Lost - $30
Direction - Buy
So, yeah, I lost money trading gold around the period with highlighted in white on the chart. I would appreciate your feedback on why you think I lost the trade and what you would have done differently. Please all replies should come with images so it looks sensible.
@melody, when trading gold you need to demarcate your charts to show the Asian session range. This will give you a clearer picture of when the Frankfurt session will start. Now you were not wrong to go long when you spotted the bullish engulfing pattern but you would have closed your long trade when price broke out of the pre-franky high (upper ash colored line) and started reversing downward with meaningful momentum.
@melody, when trading gold you need to demarcate your charts to show the Asian session range. This will give you a clearer picture of when the Frankfurt session will start. Now you were not wrong to go long when you spotted the bullish engulfing pattern but you would have closed your long trade when price broke out of the pre-franky high (upper ash colored line) and started reversing downward with meaningful momentum.
Please see more details on gold trading strategy here https://www.mytradingland.com/thread/goldusd-2f8eaa/3
@melody, when trading gold you need to demarcate your charts to show the Asian session range. This will give you a clearer picture of when the Frankfurt session will start. Now you were not wrong to go long when you spotted the bullish engulfing pattern but you would have closed your long trade when price broke out of the pre-franky high (upper ash colored line) and started reversing downward with meaningful momentum.
Okay thanks @yokoyi, so I should have looked out for a reversal that had momentum then closed my buy and maybe switched to a sell. But when is the Asian session? what time range?