Trade of the Week – 18-08-2024 – XAGUSD
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
Date of issue – 18-08-2024
Commodity – XAGUSD
Entry Price– 28.54
Stop Loss – 29.15
Take Profit 1 – 27.93 | Reward to Risk Ratio – 1:1
Take Profit 2 – 26.71 | Reward to Risk Ratio – 3:1
Result at a Glance
Outcome – Hit Target 1 – Breakeven
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
Commodities like Gold and Silver were very bullish towards the end of last week. A slight weakness is expected at the beginning of the upcoming week.
Summary and Learnings
The Short position is open, and we will wait to see the outcome early next week.
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