Trade of the week: XAU/USD H1: 11-12th of April: +3.5% (+136 pips)
For more details and examples of trade, click "Examples of Trade" in the menu
On the daily chart, this is an uptrend on the 11th, on H4, the ewave is about to cross the zero line, and the H4 upper limit of the box is far away, on H1, we have a valid setup after a break of the box followed by a buy fractal (The box is small with a 40 pip initial SL). The pending order is triggered and the price flies, we exit the next day, in the afternoon for +136 pips (+3.5% profit), a very classical trade. We could let the trade runs as at the break of the lower level of the H1 box, the bars on the H4 ewave were growing up, the exit on the 13th would have brought +6% profit (self half of the profit at the break of the lower level of the box and let the trade runs would have brought nearly 5% profit).
For more details and examples of trade, click "Examples of Trade" in the menu
On the daily chart, this is an uptrend on the 11th, on H4, the ewave is about to cross the zero line, and the H4 upper limit of the box is far away, on H1, we have a valid setup after a break of the box followed by a buy fractal (The box is small with a 40 pip initial SL). The pending order is triggered and the price flies, we exit the next day, in the afternoon for +136 pips (+3.5% profit), a very classical trade. We could let the trade runs as at the break of the lower level of the H1 box, the bars on the H4 ewave were growing up, the exit on the 13th would have brought +6% profit (self half of the profit at the break of the lower level of the box and let the trade runs would have brought nearly 5% profit).
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