FriesianFX

XAUUSD Gold 90 pip sell ideas - breakdown and explanation

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
So today we had 2 successful trades - one was a "forward testing" trade with only 0.01 lots being traded, the other was our routine style of trading where we waited patiently for price action to do what we wanted it to do.

In this case, price closed below our level of support, once it did that we executed sells and with proper risk management, we closed partial profits at 10+ pips and moved stops to breakeven, which means the remaining position has the opportunity to keep running for risk free, which it absolutely did.

A beautiful run into 90 pips profit before bouncing, the perfect return after being away for a day.

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