We’ve just ended the February-March Trading Ideas contest.
Congratulations to the winner ahmadecan94, who created a great analysis of XAUUSD pair, and won $100 paid in bitcoin.
Gold has been one of the most popular assets on the SimpleFX platform recently, and we are happy to receive valuable analysis from our community.
On March 6 ahmedecan94 wrote:
gold is will be going short after double top. 1st tp at 1650, 2nd at 1630.The double top formation pattern worked. The XAUUSD only slightly surpassed the maximum during the night trading session. Once the liquidity rose in the morning the price of gold fell as our vetera trader predicted.
The take profit area was very rationally marked by ahmadecan94.
Now the best part. If you have followed the advice, opened a short order at $1683 with the highest leverage available on SimpleFX and $100 margin, and closed it at the recommended level of $1628, you would have made an 817% profit equal $825.
Stay tuned for our future contests and promotions. But above all, if you are a beginner trader, remember to follow the veterans. If you are an experienced margin trader, publish your recommendations, and increase your profit.