XAUUSD 16 September 2024

Atualizado
Here is a new intraday trade idea for Gold Spot (XAUUSD):

Trade Setup Overview:
Timeframe: 1H chart (for entry and precision) and 1D chart (for trend direction).

Market Conditions Overview:
Fractals:
The fractals on both the 1H and 1D charts suggest a bullish structure with higher highs forming.
Major Trend: The 1D chart is showing a clear uptrend, which we want to align with.

Trade Idea:
Buy Position (in alignment with the uptrend)

Entry Point:
Entry: A limit buy order at $2,579.00.
This price level is a point of confluence with the most recent support zone and is close to the moving average on the 1H chart. The entry is based on a potential retracement from the current high, providing a low-risk entry point.

Stop Loss:
Stop Loss: $2,570.00.
The stop loss is placed slightly below the recent support level on the 1H chart. This gives the trade enough room to avoid premature stop-out while minimizing risk.

Take Profit (Target):
Target: $2,595.00.
This target could be where price may test before experiencing a retracement.

Risk/Reward Calculation:
Risk: $9 per ounce (from $2,579.00 to $2,570.00).
Reward: $16 per ounce (from $2,579.00 to $2,595.00).
Risk-to-Reward Ratio: 1:1.77

Trailing Stop-Loss Adjustments:
Initial Stop-Loss: $2,570.00.
Move to Break-even: When price reaches $2,586.00, adjust your stop to $2,579.00 (your entry price), ensuring the trade is risk-free.
Trail Stop: Once the price reaches $2,590.00, trail your stop to $2,585.00 to lock in profits.
Final Adjustment: Trail the stop further to $2,590.00 as price nears the target at $2,595.00.

Volatility Consideration:
The market has shown an increase in volatility in recent days, with rapid price movements. The trade has been structured to allow flexibility for small retracements while aligning with the overall bullish momentum seen on the higher timeframe.

Final Recommendation:
Buy at $2,579.00.
Stop Loss at $2,570.00.
Take Profit at $2,595.00.
Trail stop loss for profit protection as outlined above.
This trade follows the higher timeframe trend while aiming for a reasonable short-term profit.
Trade ativo
Price hit $2586. We shifted our stop loss to $2579 as per our comment 3 hours ago!
Chart PatternsTrend Analysis

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