ExclusivelyFX

XAU (Gold) Entries + Exits!

FX:XAUUSD   Gold Spot / U.S. Dollar
What does this chart remind you of? If you guessed right --> US30 during slow markets with tons of wicking. What happened then for US30? Very very very slow breaks and slow swings. That is the primary reason why the entries are widened, I have an early entry set just in case the market does kick with Gold early week. Don't trade between the b.s, enter before the b.s begins!

How To Play The Chart Entries/Exits:
Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 30 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat.
Comment: Ignore the early entry zone due to the failed break!!