Trading gold by technical analysis only? Another fabulous payout by Barbora from Slovakia
You can make profitable trades even without big market-shaking news. Barbara proved this in early November, making a solid $4100 on gold.
While Fintokei allows trading during news events, Barbora showed you can thrive without them. Even during the US presidential election – a unique market period – she stayed focused. Instead of chasing the noise, Barbora relied on key support and resistance levels, candle formations confirming the trend, and, most importantly, staying calm. Her precision and patience paid off, turning uncertainty into opportunity.
How to make over $4100 on gold within an hour?
Traded instrument: Gold (XAUUSD)
Trading style: Intraday/Scalp
Profit: $19,895
You might remember Barbora – she’s no stranger to success. We’ve written about her before, showcasing what near-perfect trading looks like. Not much has changed since then. Barbora still trades exclusively on gold, and she’s still proving why she’s among Fintokei’s top traders.
Gold has been the star of the year, attracting traders of all styles. For those who prefer a slower approach, a swing strategy for gold trading could work well – something we’ve detailed in a recent blog. For intraday enthusiasts, Barbora’s story offers inspiration. Her skill in intraday and scalping trades is remarkable, with a success rate of around 70%. During October and November, she requested payouts totaling nearly 500,000 CZK.
How did she do it?
Gold was on a wild ride in October, with prices surging sharply in the second half of the month. Investors, bracing for the uncertainty of the US presidential election, treated gold as a safe haven. Polls at the time showed an evenly matched race, and concerns about potential post-election unrest pushed gold toward an all-time high of around $2,800. Speculating long positions made clear sense during this period, and Barbora capitalized on the trend several times.
But her standout trade went the other way – a sell position on October 7. Gold had been in a slight downtrend for days, driven by diminished expectations of a major rate cut by the US Fed and a strengthening dollar. Spotting the ideal entry point on the chart at around 14:40, Barbora executed her trade with precision, turning market uncertainty into significant gains.
It’s worth noting that on the day of this trade, there were no significant fundamental events impacting gold prices. Barb traded purely based on technical analysis – and did so flawlessly.
She entered her short position at 2658, where a strong resistance level had formed. This level was tested six times, but no breakout occurred. After entering, the market showed a falling candle followed by two rising candles that failed to retest the resistance. This rejection of a long signal confirmed her analysis.
The final green candle before the major drop resembled a shooting star – a classic indicator of an impending reversal. And that’s exactly what happened. Within an hour, Barbora closed the trade at 2643 support, securing a €4,000 gain.
Her approach was meticulous. A stop-loss slightly above resistance at 2660 made sense, and she placed her take-profits strategically at 2651, 2649, and finally 2643. This trade showcased not only technical skill but also precise execution, proving once again why Barbora is among the best.
Another Tip for Trading Gold: Watch Correlations!
Trading gold doesn’t always rely on strong fundamentals. One powerful tool that can enhance your trading? Correlation.
Gold often reacts significantly to the price movements of other instruments – and they respond to gold in turn. Understanding these relationships can give you an edge and improve your chances of success.
If you want to boost your trading strategy, dive into the concept of correlation. It could make all the difference. This article will guide you through the essentials and help you master the interplay between gold and other markets.
