GOLD Trades Idea for Thursday 09 May 2024

DISCLAIMER
This is not financial advice; you are trading at your own risk. Never risk more than you are willing to lose.

Gold/USD (XAUUSD) Ideas For 09 May 2024

SELL LIMIT Order: $2314.74
Stop Loss: $2321.78
Take Profit 1: $2307.94
Take Profit 2: $2298.91

Risk per trade: 0.5%.
MT4/5 trade expiration: Today

100% mechanical strategy, zero analysis, zero guesswork. Rise and repeat day in and day out.

Reason
The first-hour candlestick closes below 21 EMA, hence our bias is to SELL. We will place 1x SELL LIMIT orders at 38.20%, both stop loss at 0%, take profit 1 at 100% and take profit 2 at 127.20%

Trade Review For 06 May 2024
We are still running this trade. This trade is testing our patience, let's continue to hold, I will provide constant updates until either take profit or stop loss has been reached!

Trade Review For 08 May 2023
Once more, our directional bias proved correct. However, the price didn't retrace sufficiently to trigger our limit order. If it had, we could have profited handsomely and hit both our take profit levels precisely as planned!

May 2024 Trade Results

P&L for the month: +2R

01 May: +0.5R
02 May: +0.5R
03 May: +0.5R
06 May: +0.5R, Running

The year 2024 Trade Results
January: +2.6R
February: +3.35R
March: -2.90R
April: -7.75R