It seems a cheap talk, however checking the position of the candlesticks on 1 hour chart
all you need to do is allow minimum 3 candle sticks complete then you take your trade.
if the candlesticks falls below the EMA then you sell to make 50pips viceversa is also true.
I will give live updates on this trading strategy!!!!
Smarthelping i completely agree with you! experience definitely develops overtime, but if we want to get outstanding results one must
be very detailed with the chart analysis and its history, while continuously searching for innovative trading strategies.
Gold is definitely not easy to trade but with some knowledge and monitoring of the USD it becomes easier!
Do you also use a 50 pip stop loss? Some sort of stop loss is necessary.
I dont really use stop loss, which is a big weakness on my side.
Your chart shows the strategy works but must be finetuned.
I am still doing some research with my Matlab software and I will come out with more details on how to combine the
EMA 50 and EMA 110 to ensure more successful Gold trades.
all comments are welcomed, in fact the criticisms to the strategy will be appreciated