XAUUSD DAILY INTRADAY TRADING IDEA

5天前

The Disciplined Trader

How to Enter the Chart for Intraday Trading:

1. Identify Candle Closure:

○ Look for a candle to cross your predetermined zone and close beyond it.

2. Validate the Break:

○ After the candle closes, if the current new candle breaks the previous high (for buys) or low (for sells), the trade is valid.

○ Refer to point 4 for additional confirmation.

3. Use Higher Time Frames:

○ Use the H4 chart for more accurate results and to identify stronger levels.

4. Wait for Retest:

○ Always wait for a retest of the broken zone before executing positions. This helps avoid getting caught in fakeouts.

5. Intraday Focus:

○ Remember, this strategy is specifically designed for intraday trading.

6. Consider Volume Spikes:

○ Be aware that during high-volume periods (e.g., London open, NY open, NYSE open), there might not be a retest.

7. Set Stop Loss:

○ Use a stop loss of 30-40 pips to manage risk effectively.