My A+ Trade Set Up when trading XAUUSD (Educational)
Whats up gold gang! .. thought id drop in to show you how i enter my trades when they enter my zones. I set alerts here on trading view, then when price is approaching my zone, i get to the computer and lock in
Im looking for a clean break into the zone with a strong candle on the 15/30/1h
That candle must close
Next candle to open and do a small pull back to create a wick. This says to me no buying pressure is present.
Entry on the flip of the candle and break of previous candle
Target is placed.
Stop loss above previous candle high. Anything above that is invalid.
Of course i do things to manage risk and increase reward as the trade is moving, but they are personal to me. You will all have your own risk parameters im sure.
Thats it gang .. very simple, but as you can see .. very effective.
My zones work on any strategy, you could us smart money concepts, fibs, support resistance etc .. they will all work with my directional bias.
Hope this was helpful .. leave a like if it was and follow along for more XAUUSD updates
tommyXAU
Im looking for a clean break into the zone with a strong candle on the 15/30/1h
That candle must close
Next candle to open and do a small pull back to create a wick. This says to me no buying pressure is present.
Entry on the flip of the candle and break of previous candle
Target is placed.
Stop loss above previous candle high. Anything above that is invalid.
Of course i do things to manage risk and increase reward as the trade is moving, but they are personal to me. You will all have your own risk parameters im sure.
Thats it gang .. very simple, but as you can see .. very effective.
My zones work on any strategy, you could us smart money concepts, fibs, support resistance etc .. they will all work with my directional bias.
Hope this was helpful .. leave a like if it was and follow along for more XAUUSD updates
tommyXAU