MrCharlie1

XAUUSD Market Bullish Trend Momemtum

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
It sounds like you're discussing a potential trading strategy involving XAUUSD (Gold) based on a triangular pattern indicating a range-bound market. Here’s a breakdown of what you've mentioned:

Pattern Identification: You've identified a triangular pattern on the XAUUSD chart, suggesting that the market is currently range-bound.

Buy Zone and Entry Points:

Buy Zone: You've specified a buy zone starting from 2300 and extending down to 2290.
Entry Points: Within this buy zone, you suggest starting to buy from 2290.Targets:

Short-term Target: Your initial target for the long position is 2300.
Extended Target: If the trade continues favourably, you have an extended target range from 2300 up to 2340.

Stop-Loss: It's crucial to define a stop-loss level to protect your capital in case the trade goes against you. This stop-loss should be placed below the lower boundary of your identified buy zone or based on your risk tolerance and the chart's support levels.

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My Goal is Resistance zone 2400

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