Profitable Gold Trading Strategy For FREE

Dear Traders!

Gold is the most traded instrument among forex and CFD traders because of its rapid movements, which could quickly result in big profits or losses.

Today, we going to teach you a Gold trading strategy for day traders. The best part about this strategy is that it is a set-and-forget strategy. This strategy focuses on pre-London open or London open price action in a 15 min-30 min timeframe.

First, you need to add the “Asian Session Range” indicator on TradingView to ease the automatic markings of market sessions.

You can change the settings as you like, but I like to leave it with default settings. This way, I can see the Green range as the Asian session, the Blue range as the London session, and the Red range as the New York session.

Now, here are the steps to find and execute trades with this strategy:

⦁ Identify the 4-hour timeframe movement direction. This strategy only works best when the 4-hour timeframe is expected to be bullish for the day.

⦁ If you expect the 4-hour timeframe to be bullish, then go to the 15-minute timeframe and look for a test of Asian range lows, a break below the Asian range, and then wait for the price to come back in the Asian range or a break above Asian range highs and a retest of the most recent broken resistance which is now a support. In all three cases, you will buy with a stop of 25 pips and take profit of 50 pips.

Let’s go over some trade examples.

1. In the first case scenario, the price breaks below the Asian lows and comes back. We buy around Asian lows with a stop loss of 25 pips and set take profit at 50 pips.

2. In the second case scenario, the price tests the Asian lows and continues being bullish for the rest of the day. We buy around the Asian lows with a 25 pip stop loss and 50 pips take profit.

3. In the third case scenario, the price breaks above the Asian highs and retest the most recent resistance before continuing to be bullish, and that is where we buy with a 25 pips stop and 50 pips take profit.

Happy Trading!!!
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