GOLD Trades Idea for Wednesday 22 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 22 May 2024

SELL LIMIT Order: $2423.36
Stop Loss: $2434.00
Take Profit 1: $2412.73
Take Profit 2: $2398.59

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 below 21 EMA, hence our bias is to SELL. We will place 1x SELL 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 21 May 2023
Unfortunately, our trade headed to stop loss right after triggering our limit order before reversing back. This is the unpredictable side of trading, let's try again tomorrow.

P&L for the month: -0.4R
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

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