Trade of the Week – 08-12-2024 – XAUUSD
Weekly Highlights and Performance Overview
Welcome to our “Trade of the Week” page! Here, we spotlight the standout trading signal that delivered exceptional results for our members. This page serves as an educational resource, showcasing the performance of selected trading signals and offering deep insights into the strategies that led to their success.
Featured Trade Signal
https://signalsoracle.com/wp-content/uploads/2024/12/XAU15Dec2024.jpg
Date of issue – 08-12-2024
Commodity – XAUUSD
Entry Price– 2,711.22
Stop Loss – 2,725.15
Take Profit 1 – 2,697.29 | Reward to Risk Ratio – 1:1
Take Profit 2 – 2,669.43 | Reward to Risk Ratio – 3:1
Result at a Glance
Outcome – Hit Stop
Note: This trade was shared with our members last week as part of our weekly signals service. For more details, view the original signal here.
Strategic Insights
- Target 1: Set a 1:1 reward-to-risk ratio to ensure a breakeven point.
- Target 2: Set at a 3:1 reward-to-risk ratio, allowing for a maximum profit before the end of the week.
Market Conditions and Analysis
As anticipated, the resistance for XAUUSD was in the 2715 area. The high of the week happened to be our Stop Loss. A case of a narrow miss, but part of the business. We take a small loss and move on.
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