Signal closed at 76 pips

XAU/USD Reverse Head and Shoulders

Position:
Long
Symbol:
XAU/USD
Timeframe:
H4
Trigger:
1223.73
Target:
1239.21
Price Stop:
1218.73
Time Stop:
Entry:
Buy Market
Results:
76 PIPS

Signal Instructions

This is a very specific trade setup that utilizes specific risk management that you you should follow in order to get similar results as mine. If you want more information regarding setups like this you can watch the signals webinar from September 19th. If you follow the trade setup described below you don't necessarily need to watch that webinar to take this trade. I took a long position to begin with because there is a reverse head and shoulders that suggests that the market should take a significant move up over the next couple of days. As mentioned I am currently long on this trade however, we will switch long and short until the trade becomes successful through our pre-determined sequence. (The Sequence is located in the attached file in this signal). Our first trade is a 0.01 lot long at: 1223.73 with a take profit at: 1239.21 and a stop loss at: 1218.73. (This should be taken at market). If our first trade loses we have a short trade ready to go at: 1218.77. This trade has a lot size of 0.02. Its associated stop loss is located at: 1223.77 and its take profit is located at: 1203.77. This type of order is also known as a "Pending Sell Stop Order." Which means it is a sell ready to trigger but will only trigger if the market pushes lower. I have attached the sequence of this trade within this signal. You must follow this sequence perfectly. If you have questions or are not sure how to implement the sequence let me know. I will also cover this in our next class together. NOTE: in the attachment you will see that the first lot size starts at "0.1" instead of "0.01." This is for calculation purposes. It is calculating dollars and cents. Or in other words, it's saying at whatever lot size will make or lose 10 cents a pip. We know that a 0.01 lot is called a micro lot and makes or loses 10 cents a pip. With that in mind we put 0.1 in the calculator because it makes for 10 cents a pip. To state it plainly a 0.1 in the calculator equates to a 0.01 in a lot size and a 0.2 in the calculator equates to a 0.02 lot size. In recap, we have only two trades on at the moment. One trade is an active long. Trade number two is a short but it's pending and will only open if the market pushes lower. It should open in the event that the long trade loses. If that happens you should hear from me in an update that will ask you to place a new buy stop order in the event that the market rises.


Signal Updates

Due to our sell order closing out at the stop we have automatically entered into our sell stop order. I have also added a buy stop order with a .03 lot size using the same credentials from our original buy order.

Our sell stop order that triggered last evening is now up +76 pips and I have concluded to close it before the weekend is out. Initially we lost -51.6 pips on the first buy order at .01 lots and -$5.26. Our sell stop that triggered immediately following the loss our buy made +75.6 pips at .02 lots for a +$14.92 profit. After losses our trade made $9.66.