Trading Plan for September 14, 2023
Gold prices have been up and down recently, mostly due to new U.S. inflation data. This data showed that prices in the U.S. are rising more than expected, which worries investors. When inflation is high, it can affect how attractive gold is as an investment.
Here's the plan:
If you want to buy gold (XAUUSD):
Buy when the price is between $1,906 and $1,909 per ounce.
Set a "Stop Loss" at $1,904 to limit potential losses.
Aim to make a profit by selling when the price reaches $1,915, $1,920, or $1,925.
If you want to sell gold (XAUUSD):
Sell when the price is between $1,928 and $1,931 per ounce.
Set a "Stop Loss" at $1,933 to limit potential losses.
Aim to make a profit by buying back when the price drops to $1,920, $1,915, or $1,910.
A crucial tip: Don't risk more than 1% of your total account balance in one trade, and avoid risking more than 5% of your money in the nearest 10 price levels. Always use a stop loss, and be careful with your trades based on your current account balance.
Remember that trading can be risky, especially in uncertain markets. Be cautious and stay informed about the latest news and changes in the market.
Gold prices have been up and down recently, mostly due to new U.S. inflation data. This data showed that prices in the U.S. are rising more than expected, which worries investors. When inflation is high, it can affect how attractive gold is as an investment.
Here's the plan:
If you want to buy gold (XAUUSD):
Buy when the price is between $1,906 and $1,909 per ounce.
Set a "Stop Loss" at $1,904 to limit potential losses.
Aim to make a profit by selling when the price reaches $1,915, $1,920, or $1,925.
If you want to sell gold (XAUUSD):
Sell when the price is between $1,928 and $1,931 per ounce.
Set a "Stop Loss" at $1,933 to limit potential losses.
Aim to make a profit by buying back when the price drops to $1,920, $1,915, or $1,910.
A crucial tip: Don't risk more than 1% of your total account balance in one trade, and avoid risking more than 5% of your money in the nearest 10 price levels. Always use a stop loss, and be careful with your trades based on your current account balance.
Remember that trading can be risky, especially in uncertain markets. Be cautious and stay informed about the latest news and changes in the market.
