Gold Trading Strategy for 23rd January 2025

Gold Trading Strategy
Buy Strategy:
Condition: Wait for the 15-minute candle to close above 2764.
Trigger: Buy when the price moves above the high of the 15-minute candle that closed above 2764.
Targets: 2773, 2779, 2785

Stop-Loss:
Set a stop-loss order below the low of the 15-minute candle that closed above 2764 to limit potential losses.

Trailing Stop-Loss:
Use a trailing stop-loss to lock in profits as the price moves towards the targets. For example, set a trailing stop of 10 points below the current price.

Sell Strategy:
Condition: Wait for the 15-minute candle to close below 2742.
Trigger: Sell when the price moves below the low of the 15-minute candle that closed below 2742.
Targets: 2738, 2732, 2726

Stop-Loss:
Set a stop-loss order above the high of the 15-minute candle that closed below 2742 to limit potential losses.

Trailing Stop-Loss:
Use a trailing stop-loss to lock in profits as the price moves towards the targets. For example, set a trailing stop of 10 points above the current price.

Discipline:
Stick to the trading plan and do not deviate from the strategy. Avoid making impulsive decisions based on emotions.

Disclaimer:
This analysis is based on historical data and market trends. Past performance is not indicative of future results. Trading and investment involve risks, and you should conduct your own research or consult with a financial advisor before making any decisions.