SPOT GOLD Zig Zag Long Average Up LONG or NOT ?
SPOT GOLD XAUUSD is shown here on a 30 minute chart. This zig zag long trade is a bit more
than a day in duration. It is meant for use in a forex trade with 10:1 leverage and then
increased upon fluency after some amount of experience. Superimposed on the chart are
support and resistance zones of the visible range and the RSI of the given chart time frame.
Buy low Sell high is implemented. In forex the lot size for the first trade can be 0.02 and then
subsequent buy and sell lot size of 0.01 the zig zagging allows for some compounding while
underway and taking profit underway to assure a winning trade. The stop loss can be set and
reset while underway by looking at at separate indicators. Beginners need less indicators not
more too many and they get stuck into trading paralysis and are uncertain how to proceed and
cannot act in a short time which is important trading intraday. This same strategy works
on lower time frames such as 1-5 minutes .
than a day in duration. It is meant for use in a forex trade with 10:1 leverage and then
increased upon fluency after some amount of experience. Superimposed on the chart are
support and resistance zones of the visible range and the RSI of the given chart time frame.
Buy low Sell high is implemented. In forex the lot size for the first trade can be 0.02 and then
subsequent buy and sell lot size of 0.01 the zig zagging allows for some compounding while
underway and taking profit underway to assure a winning trade. The stop loss can be set and
reset while underway by looking at at separate indicators. Beginners need less indicators not
more too many and they get stuck into trading paralysis and are uncertain how to proceed and
cannot act in a short time which is important trading intraday. This same strategy works
on lower time frames such as 1-5 minutes .
Trade active:
Spot Gold making its move on the London session
Comment:
Trade active:
Gold Futures linked here:
Futures have stalled and trended down. Remains to be seen whether it is a trend reversal or simply a pullback on a down market day.
Futures have stalled and trended down. Remains to be seen whether it is a trend reversal or simply a pullback on a down market day.
Comment:
Bullish momentum is evident High Tight Bull Flag and expect more of the same.