I DO MY TRADING BASED ON THIS SIMPLE CHART I LOOK AT SUPPORT AND RESISTANCE LINES AS WELL THE RSI.
IF THE PICE IS TAKING SUPPORT ON THE GREEN LINE AND THE RSI IS OVER SOLD THAT WOULD BE MY ENTRY POINT FOR LONG, IF PRICE IS TAKING RESISTANCE ON THE GEEN LINE AND THE RSI IS OVER BOUGHT THAT WOULD BE MY SHORT ENTRY POINT.
MY SL IS ALWAYS 2 USD ABOVE OR BELOW THE PREVIOUS HIGH / LOW
GOLD
XAUUSD
IF THE PICE IS TAKING SUPPORT ON THE GREEN LINE AND THE RSI IS OVER SOLD THAT WOULD BE MY ENTRY POINT FOR LONG, IF PRICE IS TAKING RESISTANCE ON THE GEEN LINE AND THE RSI IS OVER BOUGHT THAT WOULD BE MY SHORT ENTRY POINT.
MY SL IS ALWAYS 2 USD ABOVE OR BELOW THE PREVIOUS HIGH / LOW
GOLD
XAUUSD