Gold Trading Strategy
Buy Strategy:
Condition: Wait for the 15-minute candle to close above 2715.
Trigger: Buy when the price moves above the high of the 15-minute candle that closed above 2715.
Targets: 2721, 2727, 2733
Stop-Loss:
Set a stop-loss order below the low of the 15-minute candle that closed above 2715 to limit potential losses.
Profit Booking:
As the price reaches each target, consider booking partial profits to secure gains. For instance, sell a portion of the position at 2721, another portion at 2727, and the remaining position at 2733.
Sell Strategy:
Condition: Wait for the 15-minute candle to close below 2694.
Trigger: Sell when the price moves below the low of the 15-minute candle that closed below 2694.
Targets: 2688, 2682, 2674
Stop-Loss:
Set a stop-loss order above the high of the 15-minute candle that closed below 2694 to limit potential losses.
Profit Booking:
As the price reaches each target, consider booking partial profits to secure gains. For instance, sell a portion of the position at 2688, another portion at 2682, and the remaining position at 2674.
Risk Management:
Position Sizing:
Use proper position sizing to ensure you do not risk more than 1-2% of your trading capital on a single trade. This helps to manage risk and protect your capital.
Diversification:
Avoid putting all your capital into a single trade or asset. Diversify your trades across different assets to minimize risk.
Discipline:
Stick to the trading plan and do not deviate from the strategy. Avoid making impulsive decisions based on emotions.
Disclaimer:
This analysis is based on historical data and market trends. Past performance is not indicative of future results. Trading and investment involve risks, and you should conduct your own research or consult with a financial advisor before making any decisions.