Catching Gold's Bearish Momentum

31 Jul 2023

Objective: This trading idea aims to capitalize on Gold's bearish daily bias and premium area on the 4-hour timeframe. We'll execute short positions using two sell limit orders based on M15 fair value gaps, targeting a minimum of 1:7 risk-reward ratio.

Trade Details:
- Pair: XAU/USD (Gold)
- Timeframe: Short to medium-term (Daily, 4H, M15)

Entry Criteria:
1. Confirm the bearish daily bias with supporting indicators and technical analysis.
2. Identify the premium area on the 4-hour timeframe.
3. Use two M15 fair value gaps as precise entry points to initiate short positions.

Exit Criteria:
- Set profit targets aiming for a minimum 1:7 risk-reward ratio.
- Implement a stop-loss strategy to manage risk effectively.

Risk Management:
- Adhere to proper position sizing to limit risk per trade.
- Regularly adjust stop-loss levels if necessary "Trailling".

Disclaimer:
This idea is for educational purposes only and should not be considered financial advice. Trading carries risk, and past performance does not guarantee future results. Conduct your own research and exercise responsible risk management.

Final Thoughts:
As we execute this short strategy on Gold, i welcome feedback and insights from the TradingView community. Remember to stay disciplined and always prioritize risk management to achieve consistent and successful trading outcomes.

iG - @itshatim_