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After price took out the liquidity on the H4 swing low on Gold, it has broken above that level and it’s rising steadily. I believe there’s a good opportunity for a quick 1 to 2 RR trade here. I’m risking 1% of my account here to make 2%. Risk management is key to success. I believe price will take out that short term swing highMy sell idea worked out for Gold, there was a minor support there, building up liquidity as seen on my post earlier, as soon as price took out that zone, I was very confident that we will see massive sells, 35% up on my account in a day, without breaching the 5% drawdown.
I think I would be topping the leaderboards if there were one 😉Straddle trading idea, we have got the highly anticipated FOMC news by 8pm GMT+1, Gold is reacting to a key level on the H4 timeframe, above we have an intermediate swing high that price is very likely to be drawn to, but if that support zone fails, I believe price will go down and sweep the nearest swing low. There will be a lot of volatility, and statistically, straddle trading techniques are the most efficient for extremely volatile price movements
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