GOLD/XAUUSD Trade Idea
My trading plan is to buy XAU/USD at the H4 timeframe based on the bullish sequence, with a risk-reward ratio of 1:3.
I'll use a stop-loss order at FE 1.618 + 10 Pips (Spread) and set a take-profit order three times further away from my entry point.
I'll monitor the market for any changes in the bullish sequence or external factors that may affect the price of gold.
I'll also manage risk by trading with a portion of my capital, avoiding over-leveraging, and keeping a trading journal.
I'll review and update my plan regularly to ensure its relevance and effectiveness.
I'll use a stop-loss order at FE 1.618 + 10 Pips (Spread) and set a take-profit order three times further away from my entry point.
I'll monitor the market for any changes in the bullish sequence or external factors that may affect the price of gold.
I'll also manage risk by trading with a portion of my capital, avoiding over-leveraging, and keeping a trading journal.
I'll review and update my plan regularly to ensure its relevance and effectiveness.
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