I have been traveling internationally the last day or so, but wanted to share with you a trade I took on Gold recently to start the week. Sometimes, timing is everything, not just in entries, but in exits as well. The high for the day was just a few $ higher and then Gold shortly after collapsed (see chart below).
This trade ended up banking an over 5.25:1 reward to risk play. Now keep in mind, if you are trading the daily charts only, and had a 100 pip stop, you would need at least a 525 pip target to match this type of return. Ask yourself how many 525 pip winners with 100 pip stops have you …... Keep reading