Intraday Gold Trading Strategy is an approach integrates the Exponential Moving Average (EMA) 34 High and Low with the %Williams Range 115 periods on the close, tailored for intraday trading of gold and volatile currency pairs. Executed across 3, 5, and 15-minute time frames, it primarily targets Gold, Nasdaq 100, Oil, GBPJPY, and GBPJPY.
Indicators Used:
EMA 34 High and Low: These indicators assist in determining short-term trend direction and potential support and resistance levels. CCI Woody (periods, 170): Identifies the long-term trend.%Williams Range 115 (W%R): Although typically an oscillator for overbought and oversold conditions, here it's employed as a trend indicator.
Trading Rules
Long Entry: Look for a green CCI Woody bar, with the price above -25 and crossing above the EMA 34 High.
Short Entry: Observe a red CCI Woody bar, with the price below 75 and crossing below the EMA 34 Low.
Exit Rules
Stop Loss: Place the stop loss below the recent swing low for long positions and above the recent swing high for short positions. Alternatively, consider using a trailing stop.
Take Profit: Set a predetermined target level based on previous swing highs or lows.
Risk Management
Risk no more than a certain percentage (e.g., 1%) of your trading capital on each trade.
Adjust position sizes according to the distance to the stop loss to maintain a consistent risk-reward ratio.
Download
https://drive.google.com/file/d/1KTZDp0QLEuH1hOudiKGpYItwouOct605/view?usp=sharing
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