Waiting for GOLD to break one of the SR zones.
After breaking, we put a pending order to the outer edge of the zone.
Highly recommend to use Twin Trading, for bigger potential profit.
Stop Loss - I'm using max 40 pips stop loss. The most important is, to put it behind the SR zone. But it all depends on your strategy and RRR.
Take Profit - Put take profit at the next potential SR zone, but as i said before, highly recommending using Twin Trading (take profit for just one order, and at the second one just moving stop loss to the profit with market). At break&retest strategy even the smallest chance for one successful Twin trading can be highly profitable.
After breaking, we put a pending order to the outer edge of the zone.
Highly recommend to use Twin Trading, for bigger potential profit.
Stop Loss - I'm using max 40 pips stop loss. The most important is, to put it behind the SR zone. But it all depends on your strategy and RRR.
Take Profit - Put take profit at the next potential SR zone, but as i said before, highly recommending using Twin Trading (take profit for just one order, and at the second one just moving stop loss to the profit with market). At break&retest strategy even the smallest chance for one successful Twin trading can be highly profitable.
Trade active:
First Take profit Hit !!
Second one moving Stop loss to Break Even and still going.
Second one moving Stop loss to Break Even and still going.
Trade closed: target reached:
110 + 150 (trailing stop) = 260 PIPS total.