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10.07.202011:34 Forex Analysis & Reviews: Trading idea for gold

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Good afternoon traders! An intraday trading idea for gold.

If the short impulse yesterday can be considered as wave A of the classic ABC pattern, now, gold is trading in the area of 50% Fibonacci, which breaks the correction formed at the American session yesterday.

Work for a false breakout in the level of 1805 to update the low reached yesterday and short the quotes in the trading chart.

Movement may reach up to more than 1,000 pips, the profitability of which is 5/1.

Good luck and make sure to control the risks!

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