Gold buy entry point, 7-8 hours trade MAX.

Here we have our 3 Moving Averages inside the candlestick, with the Ichimoku convergence line crossing the base line, all while RSI goes from below 50 to over 50. This shows a bullish short-term trend since we are on the hourly chart. Personally opened a buy position at 1738.7, trade duration: 7-8 hours max.

TP1: 1744
TP2: 1749.8
SL: 1734.85

This is my own analysis, please do share your insights.

Kommentar:

TP 1 hit. Closed 75% of position, keeping only 25% running as market is volatile.

Trade geschlossen: Ziel wurde erreicht:

TP1 hit, 75% of position closed with 547 pips.
Now SL hit, 25% of position, 385 pips.
• Overall 314 pips profit.

Trade geschlossen: Ziel wurde erreicht:

XAUUSD did touch the TP2 price in just 5 hours as anticipated, however we had our SL hit earlier.
Happy with this trade.