Markets

Technical Trading: The Friday Effect in Gold – Columns

Friday, 06/04/2021 4:36 PM from René Wolfram

| Views: 389

Friday is a particularly effective day for the gold price. On that day, gold has historically seen the strongest performance. This effect can also be exploited systematically with an ultra-short-term strategy. In this video I show you exactly what it is all about, and with which product I would like to use it: To the video

BULLISH | What looks good

  • Friday effect
  • Commodity bull market
  • Seasonality

BEARISH | What doesn’t look good

  • Resistances at 1900 and 1950 USD


STRATEGY & CONCLUSION

The trade is implemented with lever 46. The exit takes place today at the end of trading.

  • LEVEL | Pay attention to these brands:
  • $ 1850.00 | Support
  • $ 1900.00 / resistor

    CERTIFICATE | With this certificate, the trade could be implemented.
    NOTE! The setup is valid for the current trading day.

    Gold long
    WKN KE7J5V
    EUR 0.34 | Market
    Order valid for the day (up to and including June 4th, 2021)
    EUR 0.00 | Stop Loss = KO


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René Wolfram, born in 1977, began trading on the stock exchange during his high school graduation. While studying business administration, he was already a self-employed trader, and in the years that followed he specialized in trading derivative financial instruments and futures. For this he developed his own trading strategies and rules in self-study. Wolfram was strongly influenced by the approach of the trading legend Larry Williams, who won the trading world championship in 1987 and holds a world performance record to this day. In 2013, Wolfram himself achieved one of the top three places in the renowned real money competition. With a performance of 52.3%, he was the first German ever to finish third in the World Trading Championship.

His trading approach is fundamentally and statistically shaped, but also has technical elements. Traders can track their full-time trading transparently in the RealMoneyTrader live trading room and follow every trade live. Commodities, currencies, indices and bonds are traded there. On his website www.realmoneytrader.com It also provides helpful information for traders in the form of articles, videos and free training.

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