Channel trading strategy is most beneficial for Gold traders
Market activity is low and no serious trends are expected. Therefore, Gold traders may be interested in a channel trading strategy now. The price has sharply crossed the 200 simple moving average and created a nice fractal. If you use it as a level for entering a position, then the price will still have a power reserve to the nearest resistance level of 1819.00. Thus, you can earn 1000 pips on the impulse inside the channel.
Order Type: Pending Order - Buy Stop
Entry Price at 1809.00
Take Profit at 1819.00
Pips Earning: 1000
Forex trade strategy for major currency pairs:
EURUSD buy at the price of 1.1830
USDJPY sell at the price of 109.95
GBPUSD buy at the price of 1.3885
USDCHF buy at the price of 0.9225
The profit can be $1000.00 if the trading volume of 100 Tr. Oz.