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Unlock the potential of gold trading in 2024 with our expert strategies designed to capitalize on market volatility. This video is a goldmine of information, providing you with five essential tips to enhance your trading skills, whether you’re a novice or a seasoned trader. From leveraging Federal Reserve interest rate cuts to navigating recessions and geopolitical risks, we delve into the intricacies of the gold market and present a simple yet effective strategy for immediate application.
Discover how to align your trades with Treasury yields, understand the inverse relationship of gold, and use the Euro-dollar currency pair to your advantage. We also reveal how to anticipate market moves with our proven moving average cross strategy on daily charts.
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If you’re trading gold in 2024 here are five essential tips to help you become a better more profitable gold Trader regardless of whether you have been trading gold for 10 days or 10 years I’m confident that you’ll learn something new however be sure to watch this video
To the end as the final tip reveals a simple yet effective goal trading strategy that you can start using right away it’s amazing to me that everyone loves to invest buy and trade gold because unlike stocks gold has no cash flow dividends or interest rate yet everyone loves it for the volatility
Safety and history even if there’ll be guns food and water and land that will determine who survives the apocalypse everyone loves to trade gold because it moves and it moves more in percentage terms than many other instruments if you’re trading gold here are the tips that you need to know for
2024 number one we know this year will be the year of interest rate cuts for the Federal Reserve and many other central banks but did you know that the interest rate cuts are very good for gold take a look at this chart gold is the yellow line and the blue line is the
Fed funds rate when the FED Cuts interest rates it can lead to a massive gold market rally as you can see in the chart gold begins to Rally before the Federal Reserve lowers interest rates but the big move happens when the cuts actually begin so while gold hit a
Record high in December of last year the rally could just be beginning this leads us to tip number two gold has an inverse which means an opposite relationship with US Treasury yields so when treasure yields rise gold Falls and when treasury yields fall Golds tends to Rally as you
Can see here this is no surprise given the relationship between the FED fund Futures and the goal that we just talked about but this relationship can also help you avoid losses which is very very profitable or very very valuable as a Trader as a go Trader you should always
Be watching treasury deals it will keep you out of bad Trad and support you to take the good ones the best way to think about it is if us deals are up 1% or more do not buy gold if us seals are down 1% or more do not sell gold instead
You want to be looking to buy gold when us yields are down and sell gold when yields are up now you may be wondering why does gold track interest rates the answer is quite simple the level interest rates is determined by how well an economy is doing right so whether
Growth or inflation are too high or too low Det how Central Bank set interest rates and surprise surprise gold is affected by the very same things tip number three if you’re trading gold you should also be watching the euro dollar currency pair if your chart setup is
Telling you to buy gold and Euro dollars collapsing take a smaller position or better yet pass on the trade completely if your chart setup is telling you to sell gold a rising euro dollar should strengthen your confidence in the trade this daily chart shows how tightly EUR
Dollar and gold move together and if you look very closely you can see the blue line which is Euro will often times move before the yellow line which is gold this relationship works on a shorter term basis as well take a look at this 1H hour chart which shows Euro and gold
And that how their mirror images of each other with the Euro the Blue Line often leading the move in the yellow line gold so if Euros falling quickly chances are gold is going to follow suit if your T sell setup is telling you to sell gold
And youro falling take the trade but if your chart setup is telling you to pick a bottom in gold and Euro is falling maybe you should think twice about taking that trade because the bottom could actually be broken rather than held it is important to understand that gold is correlated to euro dollar
Because gold is priced in US Dollars and both the value of the euro dollar currency and gold is determined by the US Dollar’s value and moves now there will always be periods where the relationship breaks nothing works 100% at the time but if you want to be be a
Good Trader you need to select the highest accuracy trades and taking the cues from Euro or US Treasury deals will help you achieve that don’t forget I’ll be revealing a simple effective goal trading strategy at the end of this video I hope you’re learning that there’s more to trading that looking at
Charts check out the link in the description if you want to learn how to trade with fundamentals now tip number four three things could drive gold prices higher in 2024 recession fresh geopolitical risk and the the return of inflation recession is actually very good for gold and the last three us rate
Cut Cycles either preceded or coincided with recessions as you can see in this chart this chart says recessions always occur after the FED starts easing I’m not convinced that there would be a deep us recession but anything can happen right even if there isn’t a recession or
A deep one the turmoil in the Middle East could escalate we could see more Chinese posturing towards Taiwan and inflation could start Rising say get all of which is good for gold you made it to my very last trading tip congrats which is a very very simple trading strategy
That I hope you all enjoyed this trading strategy will help you identify some big moves in Gold just as they are happening and hopefully help you ride the move for some good profits so let’s go ahead and get started at looking at the strategy so right now you’re looking at my goal
Chart and in the skull chart we are going to lay on two indicators the first indicator simple moving out average we’re going to set it to the 10 moving average which we are going to make um our red line and then we are going to add another moving average and you can just
Copy and paste it and this is going to be our blue line and it’s the length is going to be 50 and we’re looking at a daily chart of the gold price so the rule of the strategy is very very simple all you want to do is you want to look
For what we call the moving average cross where the 10 simple moving average crosses above the 50 moving average or the 10 moving average crosses below the 50 moving average so let’s take a look at some of the examples that you would have um or some of the trades you have
Taken based upon this setup so right here in this candles when we have the most recent 10 which is the red line SMA Crossing above the 50 SMA so at this point the market closes here and so the market closes right here and you would have gone long gold at
1974 so 1974 that means that your target is 1989 and your stop is$ 19959 so you can see it rallies and the high in this one is actually 1997 so very next day your profit Target is hit and at this point you can Trail your
Stop you could Trail it by the 10 SMA if you like or um you can go for two times risk this one went well above $2,000 to almost 2010 so one winning trade here’s another cross and this is a short trade in gold in this case the 10 SMA is
Crossing below the um 50 SMA so the red line is crossing below the blue line so we go short here at 1925 it doesn’t retrace at all so we don’t to worry about you know the precise stop level but that’d be 1940 our Target on the
Other hand is 1910 for the first level and you can see it takes a little bit of longer time than the other trade but pretty much right over here is where the profit Target was hit so right at this candle is where your profit Target is
Hit and you could have trailed your stop maybe on um a move above back above the 10 SMA you would have exited your second having position pretty much at the same level so one winner two winner here this one um I don’t even need to run through
The numbers here but this one is a loser and that’s okay you know not every single trading strategy is going to work 100% of the time here is the next short trade so we go short here 1974 doesn’t really retrace at all um 1974 that would put your profit Target at about 19
59 and so pretty much the next day the profit Target gets hit right over here and you know you could have squeezed it for more position you went two times risk or you could Trail your stop you know two times risk generally works a lot better here is another
Trade where uh we have the cross right over here I’m going to bunp this up we go long at 1988 so your profit Target should be about um 2003 I believe 2003 and and then the next day profit Target is hit the high
Is 2009 here so we have 1 2 3 4 five five trades four of which are winners uh so far and here’s another one here we cross right over here close at 1836 as our profit Target is at 1821 and then pretty much the next day
It gets hit so five out of six winners those are the kind of odds that I want to see with um any type of trading strategy as I said no trading strategy works 100% of the time but you know five out of six winners are pretty good odds and um
That’s what this very very simple easy to use strategy has um given us in the most recent trades now some of you may say that’s great Kathy I love the strategy if you trade gold and you trade gold well and you’re in the market for futures prop trading account check out
The big discount code that we have in the description below because you can use gold to earn a funded traded account if you are looking for a shorter term strategy to trade gold let me show you what I use so for those of you that looking to trade gold on a shorter term
Basis what I use is my zip indicator this ZIP indicator is available to all BK Traders and it’s very simple to use let’s take a look at it so right now you’re looking at my zip chart and what’s really beautiful about zip is that the chart basically at one glance
Helps you understand what the short-term and the longer term trend is and we use zip on one hour charts so you can see here in the most recent price action um gold the background is green and the um gold is trading above the indicator line which is the short-term Trend and so
That means that the short and long-term trend is bullish gold but here we have the background red and most of the prices is below the indicator line which means that the long and short-term trend is bearish gold so you want to look for opportunities to sell gold in this zone
Now the trade setups we have is when we we have a white candle with um either red or green background in this case we have a white candle with a red background so that means that gold has fallen below the indicator line and the longer term trend is bearish so you sell
Gold here so we sell gold at 2069 $5 Target $10 stop on the first half of the position and then you can Trail your position on the second half maybe go for $15 $20 Target so here we have gold triggering a sell signal at 2069 so our first Target is going to be
2064 can’t be greedy because we’re trading 1 hour charts whereas the previous strategy that I really love trades daily charts so you can go for a bigger $15 Target but here 2069 our Target is 2064 so it gets hit actually relatively quickly over here and then you Trail
Your stop you can Trail your stop by the line or whatever you want and in this case you probably would have been stopped out if you you trailed your stop by the indicator line however we have a new Fresh cell signal here so you new fresh cell signal 2059 and then you can
See that it does go a little bit above um retraces against to 2067 but not you know enough to stop you out and here this becomes a very very big trade where you would have hit your first Target somewhere around here and you would have hit your second target as well cuz your
First Target would have been 2054 which would have been hit over here and then if you had a $15 second target that would have been 20 um 44 and that would have been hit over here so first and second target was hit so winning trade here winning trade here
This one um you would have gone long at 274 and unfortunately not enough juice um just missed your Target by a little bit but that’s okay two winners one losers that’s not too bad and the next time we have a setup is over here where
We go long here 2035 45 is our Target so we’re still holding our position still holding it still holding it we actually get Triple zip which I love to see and boom this becomes a really really big move higher here’s more winning trades and you can see it works very very well
Here’s another beautiful setup here in Gold um this one would have been um I don’t know this one 1982 this would have been a loser but you lose a little and you win a lot and the odds are still very very good for gold using the zip
Trading strategy and you can catch some really big moves so this is a way to trade gold on a shorter term basis using 1hour charts with more frequent trades than the previous setup using daily charts I just shared with you five essential gold trading tips now all I
Ask in return is that you take 2 minutes of your time and like this video and if you want to stay on top of my future trading strategies and tips make sure you subscribe to the channel and if you want to trade with me there’s a special discount Link in the description below
Don’t miss our next trading video see you next time
1 Comment
thank you