I was doing a little research on risk to reward and I just found out that the lower ur risk to reward, the higher ur win rate, a 90% win rate is possible if you are risking $9 to make $1, go and backtest this for yourself, the trade above is a $5 to $1 inverse risk to reward trade, entry based of the moving average and bullish engulfing
im buying gold and my reason was that 2,740 was a strong surpport and the last 1 hour candle close in those range i will buy there till 2,770 and set sl to the formwer swing low
XAU/USD (GOLD) IS AT 2759 NOW AS AT 2:20PM NIGERAIN TIME THIS MONDAY 27TH JANUAARY 2025, THERE WAS AN LONG MOVE IN THE EARILIER PERIOD TODAY BUT MARKET IS RETRACING FOR A SELL AND SO I HAVE ENTERED A SELL POSITION. PRICE WILL GET TO 2754.
THAT IS MY POSITION AND SO I EXPECT A SELL CONTINUATION ON THIS 15′ CHART OG GOLD.
Gold went long at 2746 this morning at about 8:15 am and i saw a recersal at 2758 and i entered a sell.
Market is about to make a turn around from 2758 to further below 2745. This is because of the identical candle formation at the 30” chart. I see a sell.