OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hi all,

The XAUUSD hitting the lower limit of a strong parallel supports.

I'm expecting the price will jump-off from there.

In the chart from way back, the signals moved evenly in sideways.

At 1304.277, the market got broke out and turned the trend towards down.

After a change in trend, the chart printed an impulse to catalyze the conversion process.

In a 4hr time scale, the price range hanging at 1263.182.

The market formed an impulse and its correction in a constant manner.

From here the market may move in two ways.

It may form another direct and steady impulse to top.

or else it will form a small correction to gain the potential for a jump.

In that scenario, the signal forms a correction to stabilize the movement and then it will form an impulse to reach the top.

In case the signals continued to travel as a correction means, end the trade at 1252.760.



Order: BUY

Entry: 1263.182

Pending Entry: 1259.311

Take profit: 1284.098

Stop loss: 1252.760

Risk Vs Reward: 2.01

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4. Risk vs Reward up to 1:7.
Trade signals would usually have a risk to reward ratio of 1:2.
It means that even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.
This allows you to be good in overall pips profit.
Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.

Note: Everything works with Best money management.

Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.


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Trade active: The market moving in a expected way.

As i said early, the chart printed an impulse too jump-off from the support zone and pitched a correction.

So, i'm expecting a one more impulse to finish the mission.

Stick with our plan. stay profit.
Trade closed: stop reached

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You think this is a buying point? I see heavy oversold RSI right now. Got into some gld calls before market closed today
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