International Gold 3×7
International Gold 3×7 is a powerful and highly effective trading strategy designed for experienced traders. This strategy utilizes the 3×7 pattern, which is a technical analysis pattern that can be used to identify potential trading opportunities in the gold market.
The 3×7 Pattern
The 3×7 pattern is a candlestick pattern that consists of three consecutive bullish candlesticks followed by a seven-day period of sideways to slightly downward movement. The pattern is considered to be complete when the price breaks above the high of the third bullish candlestick.
Trading the International Gold 3×7 Strategy
The International Gold 3×7 strategy is traded on the H4 timeframe. The entry point for the trade is when the price breaks above the high of the third bullish candlestick in the 3×7 pattern. The stop loss is placed below the low of the seventh candlestick in the pattern.
The take profit target for the trade is based on the risk-to-reward ratio of the trade. A typical risk-to-reward ratio for this strategy is 1:2. This means that the trader aims to make a profit that is twice the size of the potential loss.
Advantages of the International Gold 3×7 Strategy
* High potential for profit
* Low risk
* Easy to identify and trade
Disadvantages of the International Gold 3×7 Strategy
* Requires experience in technical analysis
* Can be time-consuming to wait for the pattern to develop
* Not suitable for all market conditions
Conclusion
The International Gold 3×7 strategy is a powerful and highly effective trading strategy for experienced traders. This strategy utilizes the 3×7 pattern to identify potential trading opportunities in the gold market. The strategy is easy to trade and has a high potential for profit, but it requires experience in technical analysis and can be time-consuming to wait for the pattern to develop.
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