The Forex Channel returns with a gold strategy used by Rules Fx, which includes looking for short positions on lower highs. Imbalances and levels are also used for entry points.

A Guide to Trading Gold: My Winning Strategy

Introduction: I’m Back and Ready to Trade

After a brief hiatus, I’m back to share my latest trading strategy with all of you. I’ve been receiving messages from followers wondering where I’ve been, but I’m happy to say that I’m back and ready to share my insights and experiences as a forex trader. In this article, I’ll be discussing my winning strategy for trading gold and sharing my latest trade with VIP members. Let’s get started!

Gold Trading Basics: Daily and 4-Hour Trends

Before we delve into the strategy, let’s first review some basic knowledge about gold trading. On the daily chart, we can see a double bottom pattern that signals a strong support level for gold. On the 4-hour chart, we can see the previous rejections of this support level, followed by a reversal up to a resistance level. After this, we see another rejection of the support level, creating a lower high and signaling a downtrend. From here, we begin looking for opportunities to short gold as it moves further down the trend.

My Specific Trading Strategy: Waiting for Imbalances and Pullbacks

Now that we understand the basic trend, let’s talk about my specific trading strategy. First, I look for imbalances in the market by noticing gaps in the candles on the daily chart. I then draw levels at these imbalances to identify potential areas where price could sell off. Additionally, I wait for pullbacks in the downtrend to find optimal entry points for short positions.

My Latest Trade: A Winning Strategy in Action

To illustrate this strategy in action, I’ll walk you through my latest trade. I sent out this trade to VIP members at 9:35 am, with entry at 1793 and a stop loss just under 1798. My original target was 1740, but I closed the position early and missed out on some potential gains. However, I remain vigilant and look for additional opportunities to enter short positions as gold continues to trend downwards.

Conclusion: Success in Trading with a Strong Strategy

By following my winning strategy, which involves identifying imbalances and waiting for pullbacks in a downtrend, I was able to successfully enter a short position in gold and secure gains for myself and my VIP members. Remember, it’s essential to have a strong trading strategy and to stick to it in order to achieve success in forex trading. Thanks for reading and happy trading!