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I took a trade on the 4 hour chart on the Dow today, took relevant screenshots and I thought that you would find it useful for me to talk you through the trade.
This is a trade based on my own Gold Trading System, which is a system that I trade on any timeframe. I take infrequent trades on the longer timeframes but this one set up perfectly, so it was too good to miss.
I took the trade prior to the open on the US markets with a view to catching the general downward momentum in the markets to help with the confluence of signals from my Gold system.
As you will know by now I always look for a minimum of 1:1 reward to risk on my trades to maintain a good mathematical equation and this one offered 2:1 so all the better!
I saw the 4 hour candlestick turn red, this was my trigger for entry on this trade and I took an at the market entry. I set auto stop loss and take profits levels and let the market go ahead to do it's thing. Watch to find out how I got on.
