2 minute Trading Strategy for Gold
I have overhauled my strategy. This time, I will execute trades using the 2-minute timeframe. Why 2 minutes? The objective is to enter trades as early as possible without triggering our stop-loss. The strategy relies on trend direction, targeting high/low support and resistance levels. Additionally, I also integrate the Simple Xtrade SR for additional confirmation.
Before an entry is considered valid, three confirmations are necessary. The most favorable time for trading is during the New York session, with a take profit (TP) and stop loss (SL) both set at 50 pips, and a breakeven point positioned at 30 pips. However, if one opts for trading during the Asian or London sessions, the take profit is adjusted to 20 pips due to price action dynamics.
Before an entry is considered valid, three confirmations are necessary. The most favorable time for trading is during the New York session, with a take profit (TP) and stop loss (SL) both set at 50 pips, and a breakeven point positioned at 30 pips. However, if one opts for trading during the Asian or London sessions, the take profit is adjusted to 20 pips due to price action dynamics.
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