GOLD trading Averaging Strategy
level 1 open buy and Sell Limit with certain pips distance.
level 2 buy limit with tp at level 1
level 3 buy limit with tp at level 2... and so on
if price fall to level 3, and then rise to level 2... ea open buy limit order
again at level 3 with take profit at level 2
Gold is very volatile precious metal, so when it goes ranging before it decide to go UP again, we can bank the pips.
Hedging with Support and Resistance
Open two pending orders one buy and one sell at the same time.
When one pending request is set off, the other request is dropped. Simultaneously another two pending orders (one buy and one sell are opened) at the cost at which the new pending request has been set off.
The pending orders ought to be in equivalent parcels.
It would be proper to begin opening the orders toward the beginning of the
exchanging day and close them toward the finish of the exchanging day.
If the day pursues a specific direction then it will bring about great benefit else
the misfortune as I expect will be exceptionally less.
This technique is appropriate for moving cash matches.
There ought to be no objective benefit or target misfortune for any request
The methodology targets collecting orders toward the pattern till the broker closes it after the accomplishment of target benefit.
It restricts the quantity of orders to just a single kid and one sell request inside the cost range during sideways development.
The misfortune during the sideways development is restricted to the width of the network + Spread.
There ought to be an objective benefit for a day.
You might choose to close everything the orders when a specific benefit is accomplished for the afternoon.
pivot points when the RSI is oversold/Overbought - see attached screenshot for example
so - buy trade would execute when M5 and/or M15 is oversold AND price hits S1 or S2
Inversely sell when overbought hitting R1 or R2
Take profit in stages at 1:1, 2:1 and 3:1 with a stepping stop loss, risk management to be 0.5% or 1% of account value.....
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