notes about trading gold - Gold Strategy
XAUUSD - tradingview
indicators:
env envelope(5,1)
ma(50)
ma sets the trend. if price is above ma50 we are in uptrend. if is bellow, downtrend;
we need wait for a pullback and then we enter the position. that's it.
long:
- trend is up 'cause price is above ma50.
- wait for the pullback touch the down line of envelope.
- look back for support and resistance in this area.
- enter long.
- set Stop Loss just below the low of the trigger bar (step 2).
- Target Profit should be when the price reaches the up line of the envelope.
short:
follow the trend:
