My 200 pips gold trade!
Let me show you and explain my 200 pips golden trade from January 05./06. Maybe you can apply this strategy in your next trades. After gold didn’t manage to brake H4 MA100/200 in the morning i knew that gold will pull back and try to find new lower support level from where will bounce up again. That level was 1187/88 and you can see on the lower H1 chart why. I opened my long position in January 05. afternoon at 1189 after second H1 fail brake, protected with SL near at 1184 and decided to placed my TP at 1216 in 3 steps. The first one was braking those H4 MA100/200, second one H4 down trendline and third, taking profit at Daily MA100 which was placed at 1217. After first step was successful I moved my SL at BE and wait. Second step was successful as well at the end of the day and the gold opened new day above the H4 down trendline. I leave my position opened for January 06. During the morning the gold manage to catch 1214.30 and missed my TP for less then 2 usd but I decided to wait, conviced that gold will still attack my TP. After 6 hours of waiting I finaly decided to close my position at 1210.50, because 200 pips is huge profit in 26 hours of trading and I wasn’t so sure any more in higher levels. Hour and a half later, gold finaly attack Daily MA100 and even higer strong weekly down trendline at 1222, after wich was pulled back at 1215 a hour later, like I predicted at my setup. Even gold is pulled back, still looking bullish.