From TradingView · · 40s
Gold Breakout Strategy for Intraday Trading
Use Previous Day High and Low levels to enter trades with 1:3 risk-reward ratios.
In brief
Use Previous Day High and Low levels to enter trades with 1:3 risk-reward ratios. Traders use gold's previous day high and low on 1-minute charts to enter trades with stop losses and 1:3 risk-reward targets. Originally reported by TradingView.
Previous Day High & Low Breakout Strategy
This strategy uses gold's previous day high and low on 1-minute charts for intraday trading.
SELL Setup Confirmation
Wait for two bearish candles after price breaks above previous day high with second candle closing below first candle's low.
BUY Setup Confirmation
Wait for two bullish candles after price breaks below previous day low with second candle closing above first candle's high.
What to remember
Traders use gold's previous day high and low on 1-minute charts to enter trades with stop losses and 1:3 risk-reward targets.
