Don't miss the great SEE Opportunity in XAUUSD

For a Buy Position:

Entry: Above 2,509.82 (on a confirmed breakout).

Stop Loss (SL):

Place your SL slightly below the support at 2,500.00. A safe SL could be around 2,498.50. This helps in avoiding minor fluctuations that could otherwise hit the stop before the price moves in your favour.

Take Profit (TP):

The first TP target could be at the next resistance level, 2,519.98.
A more ambitious TP could be set around 2,528.00, where the next significant resistance might appear.

For a Sell Position:
Entry: Below 2,500.00 (on a confirmed breakdown).

Stop Loss (SL):

Place your SL just above the 2,509.82 level, around 2,511.00. This would protect you if the price reverses and breaks above the resistance.
Take Profit (TP):

The initial TP could be around the 2,493.75 support level.
A further TP could be set around 2,485.00 if the downtrend continues.

Summary of Levels:
Buy Position:

Entry: Above 2,509.82
SL: 2,498.50
TP1: 2,519.98
TP2: 2,528.00
Sell Position:

Entry: Below 2,500.00
SL: 2,511.00
TP1: 2,493.75
TP2: 2,485.00

This strategy offers a good risk-to-reward ratio, allowing you to capitalize on potential moves while protecting your capital with well-placed stop losses.