Hello traders. On this 4H analysis of Gold, we have an ascending channel setup with a strong resistant level within the sell zone identified. There is already good rejection from the resistance level and a good entry would be within the sell zone. A good place where price may go next would be to the support level in the 1788 region. A SL should appropriately place above the resistant level identified.
Trade closed: stop reached:
Risking only 1% per trade is essential. Your setup may be on point and so may your strategy but that does not guarantee a successful trade. A successful trade is one that has proper risk management in place, regardless of the outcome.