Generally, we are currently moving sideways!

3 Sep

XAUUSD is currently a challenging yet interesting market. I hope you were all able to follow my recent trades and use pip locking. If so, congratulations — you're in profit! If not, or if you're wondering what pip locking is, here's a quick explanation:

Pip Locking:🔐
This simply means moving the Stop Loss (SL) as the trade progresses. For example, when TP1 (Take Profit 1) ✅ is reached, you move your SL❌ to the entry price. This way, you’re guaranteed not to lose on the trade 👍. When TP2 is reached, move your SL to TP1. As soon as TP3 is reached, congratulations! The trade will automatically close in profit 🙏.

Generally, we are currently moving sideways, but I think this will change soon, as indicated (not exactly) on my chart. However, we could also go completely in the opposite direction; this will become clear at the end of our current movement. But as soon as we experience a breakout, it will be like money raining down (all at your own risk, of course).

So, dear trading community, what do you think about the current XAUUSD market? I'm looking forward to your thoughts!