GOLD Trades Idea for Friday 03 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 03 May 2024

SELL LIMIT Order: $2310.86
Stop Loss: $2326.77
Take Profit 1: $2295.21
Take Profit 2: $2274.40

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 01 May 2024
Our 01 May trade managed to hit take profit 1! I shifted stop loss to break even and I'm running risk-free trade!

Trade Review For 02 May 2024
We trigger our second trade while taking profit for the previous trade but it has yet to hit either take profit 1 or stop loss. Let's continue to hold!

May 2024 Trade Results

P&L for the month: +0.5R
01 May: +0.5R
02 May: Running

The year 2024 Trade Results
January: +2.6R
February: +3.35R
March: -2.90R
April: -7.75R