Unbelievable Gold Trade Setup! Must-Watch Analysis & Secret Risk

10 juil.

Technical Analysis of Gold Spot (XAU/USD)

Chart Overview:
- Current Price: $2,364.525
- Time Frame: 1 hour

- Key Levels:
- Resistance Levels:
- TP 3: $2,391.040
- TP 2: $2,386.595
- TP 1: $2,379.694
- Support Levels:
- LQZ: $2,371.857
- LQZ: $2,356.635
- TP 1: $2,347.655
- TP 2: $2,339.090

Candlestick Patterns:
- Recent Uptrend: The chart shows a significant uptrend starting from July 2nd to July 4th.
- Price Consolidation: Following the uptrend, there was a period of consolidation with prices forming a triangle pattern.
- Downtrend and Recovery: A sharp downtrend occurred, followed by a recovery attempt which is now in another consolidation phase.

Key Observations:
1. Resistance at TP 1 ($2,379.694): The price faced resistance around the $2,379.694 level and has not been able to break through.
2. Support at LQZ ($2,356.635): This level has provided significant support and could be a potential entry point if the price tests this level again.
3. Current Position: The price is currently trading around $2,364.525, which is below the key resistance levels and above the support levels, indicating a range-bound movement.

Lecture on Using Proper Risk Management

Risk management is crucial for successful trading. Here are key principles to ensure proper risk management:

1. Determine Risk Tolerance: Understand your risk tolerance and set a percentage of your capital that you are willing to risk on each trade. Commonly, traders risk 1-2% of their capital per trade.

2. Set Stop Losses: Always use stop losses to limit potential losses. For the current XAU/USD scenario, a stop loss could be placed slightly below the LQZ support level at $2,356.635.

3. Position Sizing: Calculate your position size based on your risk tolerance and stop loss level. For instance, if you have $10,000 and are willing to risk 2% ($200), and your stop loss is $10 away from the entry price, your position size would be 20 units.

4. Risk-Reward Ratio: Aim for a favorable risk-reward ratio. A common target is a 1:3 ratio, meaning you aim to make three times the amount you risk.

5. Diversification: Avoid putting all your capital into a single trade or asset. Spread your investments across different assets to mitigate risk.

Conclusion

For an in-depth analysis, make sure to watch the rest of the stream where I cover:
- TSLA (Tesla)
- DXY (US Dollar Index)
- BTC (Bitcoin)
- US30 (Dow Jones Industrial Average)

#XAU/USD #GOLD #TSLA #MARKETLESSON