XAUUSD Gold buy trade breakdown
Yesterdays buy that we were testing the method of ended up being a success. This is good, but it's only one case out of many more to come.
The overall theory of the trade was price breaking out of a range where there was strong support, tapping into a level that we had tapped before with anticipation that price would move back to the top of the range where our full Take Profit was.
We had a second buy limit set at a secondary level, so that should price have retraced far enough we could get a secondary position to exit both on the retest of the initial break of support which turned resistance.
The overall theory of the trade was price breaking out of a range where there was strong support, tapping into a level that we had tapped before with anticipation that price would move back to the top of the range where our full Take Profit was.
We had a second buy limit set at a secondary level, so that should price have retraced far enough we could get a secondary position to exit both on the retest of the initial break of support which turned resistance.
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