What will be more actionable and profitable for an active trader XAUUSD or GBPUSD?

sureshotfx

Trader
Sep 11, 2024
2
0
6
I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?
 

Zerologic

Active Trader
Jul 17, 2024
283
29
29
Gold trading, in my opinion, requires paying attention to its higher volatility than GBPUSD, the risk is higher in gold than GBPUSD, but the profit potential is greater.
 

NoShowBrooks

Trader
Dec 13, 2024
43
11
13
26
I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?
It depends on your trading style. Gold can be more volatile and can offer larger moves and GBP can be more responsive to the market news and economic updates.
 

Zerologic

Active Trader
Jul 17, 2024
283
29
29
The high volatility of gold provides the potential for high gains, but in line with the risk, a stop loss that is too tight is often hit by gold volatility. Some traders may use gold for scalping.
 

ChelseaR

Trader
Dec 2, 2024
57
22
14
25
Yeah, Gold price is recovering from the recent lows but I think going upside further might be limited due to the rebounding dollar. The market remains bearish while below the 21-day SMA and with the RSI below 50.
 
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David79

Trader
Nov 7, 2024
130
9
19
36
Yeah, Gold price is recovering from the recent lows but I think going upside further might be limited due to the rebounding dollar. The market remains bearish while below the 21-day SMA and with the RSI below 50.
I feel dollar could cap upside. What do you think a break above 21 day SMA would shift the trend?
 

Zerologic

Active Trader
Jul 17, 2024
283
29
29
I think gold is still facing challenges ahead of Christmas and New Year, perhaps gold trading volume will also decline on the spot market.
 

ChelseaR

Trader
Dec 2, 2024
57
22
14
25
I think there could be a potential shift in the momentum but I would always confirm it with RSI moving above 50 and other key resistance levels.
I feel dollar could cap upside. What do you think a break above 21 day SMA would shift the trend?
 
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David79

Trader
Nov 7, 2024
130
9
19
36
I think there could be a potential shift in the momentum but I would always confirm it with RSI moving above 50 and other key resistance levels.
Make sense. You rely on RSI alone or combine it with other indicators for a safer side?
 

David79

Trader
Nov 7, 2024
130
9
19
36
Definitely, I combine RSI with moving averages and support or resistance levels for confirmation.
Got it! Combining RSI with moving averages and resistance levels really helps. Also, do you use any specific timeframe for these indicators?
 

ChelseaR

Trader
Dec 2, 2024
57
22
14
25
Got it! Combining RSI with moving averages and resistance levels really helps. Also, do you use any specific timeframe for these indicators?
Currently sticking with 1-hour and 4-hour timeframe to get a better understanding of the momentum and trends. What about you?
 
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David79

Trader
Nov 7, 2024
130
9
19
36
Currently sticking with 1-hour and 4-hour timeframe to get a better understanding of the momentum and trends. What about you?
I focus on the daily chart for a broader view

I usually focus on the daily chart to get a broader view, but Are you finding momentum on these TF?
 

rmufti68

Newbie
Jan 20, 2025
17
5
3
52
I think gold is still facing challenges ahead of Christmas and New Year, perhaps gold trading volume will also decline on the spot market.
Gold is an event driven asset which can easily change direction with any upcoming global event while the major currency pairs can be better options to trade however it depends on our own trading skills and choice of choosing the right asset which makes us money.
 
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Zerologic

Active Trader
Jul 17, 2024
283
29
29
Gold is an event driven asset which can easily change direction with any upcoming global event while the major currency pairs can be better options to trade however it depends on our own trading skills and choice of choosing the right asset which makes us money.
This week, waiting for the Fed meeting, gold could be affected by interest rate news, although it is predicted that the Fed will leave interest rates unchanged amid Trump's policy on trade tariffs.
 

Chadpowell

Trader
Apr 8, 2023
89
22
24
New York
I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?
for trading in such a short time you should find something very volatile and also you should be really good at trading! for this reason gold is better IF YU KNOW HOW TO TRADE GOLD
 
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