GOLD Trades Idea for Thursday 16 May 2024

DISCLAIMER
This is not financial advice; you are trading at your own risk. Never risk more than you are willing to lose.

Gold/USD (XAUUSD) Ideas For 16 May 2024

BUY LIMIT Order: $2366.58
Stop Loss: $2351.67
Take Profit 1: $2381.25
Take Profit 2: $2400.76

Risk per trade: 0.5%.
MT4/5 trade expiration: Today

100% mechanical strategy, zero analysis, zero guesswork. Rise and repeat day in and day out.

Reason
The first-hour candlestick closes above 21 EMA, hence our bias is to BUY. We will place 1x BUY LIMIT orders at 38.20%, both stop loss at 0%, take profit 1 at 100% and take profit 2 at 127.20%

Trade Review For 14 May 2024
This trade resulted in a loss, we did get some initial reaction around our entry but the price failed to continue the downtrend. Let's try again tomorrow!

Trade Review For 15 May 2023
We did not trigger our limit order. No trade for Wednesday. Let's continue and try again tomorrow!

P&L for the month: +1.6R
01 May: +0.5R
02 May: +0.5R
03 May: +0.5R
06 May: +1.6R
09 May: +0.5R
13 May: -1R
14 May: -1R

The year 2024 Trade Results
January: +2.6R
February: +3.35R
March: -2.90R
April: -7.75R