Urgent Pair XAU/USD (GOLD) – 2Hour Chart:
1. Uptrend XAU/USD (GOLD) Open- 1306.07, Target - 1319.29, Support - 1294.02
Ultra Specific Ceteris Paribus Strategy:
“Without strategy and execution, a great idea will remain just a good idea.”- Dominic
By keeping in mind the daily target price constant trade frequently 3- 4 times a day. Maintain a free margin level approx 200%. With this trader can hold open positions up to 600 pips (approx) if opposite scenario happen. It is applied in a 1:10 leverage setting (Adjust Floating Leverage). Hold the open positions overnight in case of verified short term trend for maximum profit.
Always distribute total trading volume in two pairs.
Unique Trading Process:
Trading process is based on ZIGZAG Analysis and combining with ADX. First, predicting buy/sell any type (limit/stop) intraday. Second, identifying any type of hourly candlestick pattern formation, it is suggested to enter 1st position (buy/sell) at any level between the average of daily entry and sl price.
Third, try to book initial quick profit to verify predictions validity. This process can be repeated twice or thrice in sidewise market. Also distribution of positions by averaging method will be helpful. This way we can maximize intraday profit, provided that the daily market direction is verified and holds true.
Fourth, on the fundamental side we will check the price action more during the news in economic calendar on CPI (Consumer Price Index) data of EUROPE, UK, USA, JAPAN, CANADA, SWEDEN, and SWITZERLAND. Trade deficit data is important to follow for more volatility.
Useful Market Direction | Trading Levels:
2. Uptrend WTI (CRUDE OIL) Open- 52.56, Target - 54.76, Support - 51.39
“Every correct Decision you make takes you one step closer to being Wealthy and Successful”