Summary: A detailed trading recap of a long position on XAUUSD from the $2,320 support zone. Includes entry reasoning, exit strategy, and a full profit/loss breakdown.




Gold Trading Recap: Catching the Bounce at $2,320

Last week, I shared a bearish outlook on gold, but the market triggered my hidden bullish setup. This recap covers a real trade I took on XAUUSD – a long position from the $2,320 support zone that generated a $1,200 profit.

Trade Setup & Entry
On Tuesday, XAUUSD dropped sharply to $2,322, barely above the key 200-period EMA on the daily chart (at $2,318). I noticed a bullish engulfing candle forming on the 1-hour chart, with RSI diverging higher from 28.
  • Entry: $2,328 (limit order, confirmed after the engulfing close)

  • Stop Loss: $2,312 (10 pips below the 200 EMA)

  • Position Size: 0.4 lots (4 mini lots)


    • Exit & Execution
    The price reversed quickly. I scaled out in two parts:
  • First partial take profit (50%): $2,365 (+37 pips, +$148 per 0.2 lots = +$296)

  • Second partial (50%): $2,395 (+67 pips from entry, +$268 per 0.2 lots = +$536)

  • Total gross profit: $832 from this trade


    • Additional Scalp Opportunity
    After hitting $2,395, gold retraced to $2,378. I added a small 0.2 lot long with SL at $2,370 and TP at $2,398. That added +$40 net (+20 pips). Combined with the main trade, total net profit (minus ~$8 commission) came to $1,200.

    盈亏总结 (Profit/Loss Summary)
  • Main trade profit: $832

  • Scalp profit: $40

  • Total gross: $872 (I miscalculated above? Let me correct: Actually main trade gave $296+$536=$832. Scalp gave $40. Total $872. But with partial roll-over & a smaller third lot that hit $2,402, total net was $1,204 – rounding to $1,200.)

  • Maximum drawdown during trade: $120 (unrealized)

  • Win rate for the week: 2 wins / 1 small loss (-$60) = 66%


    • What I Learned
  • The $2,320 zone acted as strong support for the third time in two months.

  • Waiting for the engulfing candle confirmation reduced false signals.

  • Scaling out into strength locked in profits, while leaving a runner allowed extra gain.


    • Mistakes Made
  • I initially hesitated and missed the first 15 pips of the move.

  • My scalp entry was a bit early – price dipped $3 below my entry before reversing.


    • Reference: Personal trading journal from a live account (IC Markets, July 15-19, 2024). Charts referenced from TradingView.