24.02.202010:39 Forex Analysis & Reviews: Trading idea for gold

Good day, dear traders! I present to your attention, a trading idea for gold.

Today, at the opening of the markets, the rate of gold, for the first 15 minutes of trading, added almost 4000p at 5 Zn. As part of the overall upward trend since the beginning of February, the total pass was more than 12000p.

Large trends ended with large culminating candles, forcing sellers to close positions. After such climaxes, a correction is expected, or at most, a reversal:

Within the framework of the "stop hunting" strategy, two interesting levels were formed within the culminating day: 1658 and 1650.

1658 is an intraday Asian platform, where buyers' stops are located behind the area.

Meanwhile, 1650 is the mirror level of the breakdown of last Friday's high:

If the breakdown of 1658 happens, then the price will pass 1550, adding another 800p to the profit.

I recommend looking at sales after a false breakdown of 1670. There, the passage to the first goal will be more than 1000p, which is not bad within the intraday scale.

For short-term initiatives, I recommend looking at the American session, where the volatility of the quote is highest and predictable.

Good luck in trading and control your risks.