GOLD Trades Idea for Wednesday 29 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 29 May 2024
BUY LIMIT Order: $2349.43
Stop Loss: $2340.06
Take Profit 1: $2358.54
Take Profit 2: $2370.67

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 28 May 2024
We managed to hit take profit 1! Shifted stop loss to break even and hope to reach final take profit 2!

P&L for the month: +1.7R
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
21 May: -1R
22 May: +1.6R
28 May: +0.5R & Running

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