This Simple Error Cost Me Big on XAUUSD! Learn From My Mistakes!

8月1日

Key Levels and Zones

Highs and Lows:
HH (Higher High) and LH (Lower High) are marked on the chart.
The chart shows a recent HH and LH indicating a bullish trend with a potential pullback.

Liquidity Zones (LQZ):
4HR LQZ at 2474.891: This zone might act as a significant resistance level.
4HR LQZ at 2432.126 - 2432.046: This zone was previously a resistance level that may now act as support.
4HR LQZ at 2348.453: Another support zone lower on the chart.

Daily Bull Flag:
A daily bull flag is drawn, suggesting a potential continuation of the bullish trend if the price breaks out upwards.

Trading Plan

Identify Key Zones:
Mark key support and resistance levels on your trading platform.

Wait for Confirmation:
Look for confirmation signals (candlestick patterns, volume spikes) before entering a trade.

Set Alerts:
Use trading alerts to get notified when the price reaches key levels.

Risk Management:
Always use a stop loss to protect your capital.
Ensure your risk-reward ratio is at least 1:2.

Review and Adjust:
Regularly review your trades and adjust your strategy based on market conditions.