GOLD Trades Idea for Tuesday 21 May 2024

DISCLAIMER
This is not financial advice; you are trading at your own risk. Never risk more than you are willing to lose.

Gold/USD (XAUUSD) Ideas For 21 May 2024

BUY LIMIT Order: $2423.68
Stop Loss: $2407.09
Take Profit 1: $2440.03
Take Profit 2: $2461.76

Risk per trade: 0.5%.
MT4/5 trade expiration: Today

100% mechanical strategy, zero analysis, zero guesswork. Rise and repeat day in and day out.

Reason
The first-hour candlestick closes above 21 EMA, hence our bias is to BUY. We will place 1x BUY LIMIT orders at 38.20%, both stop loss at 0%, take profit 1 at 100% and take profit 2 at 127.20%

Trade Review For 20 May 2023
The price pushes higher before heading back down for a retracement. But the retracement is not strong enough to hit our limit order, hence no order for today. Let's try again tomorrow!

P&L for the month: +0.6R
01 May: +0.5R
02 May: +0.5R
03 May: +0.5R
06 May: +1.6R
09 May: +0.5R
13 May: -1R
14 May: -1R
17 May: -1R

The year 2024 Trade Results
January: +2.6R
February: -1.3R
March: +0.7R
April: +4.10R