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26.10.202011:25 Forex Analysis & Reviews: Trading idea for gold

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The US presidential election is ahead, and many traders can use this as an impetus for growth in gold.

For example, today, during the Asian trading session, gold made a false breakout in last week's low, after which long positions surged for the entire session. This is a good sign for the bulls, especially to those who want to increase the asset towards the level 1932.

Opening a long position has a risk/reward ratio of 5:1. But since traders have already tried to reach 1932 twice, those who already have existing longs can get a net profit of about 3:1.

Of course, controlling and monitoring the risk is still needed to avoid losing profit. Trading in this market is very precarious and uncertain, but also very profitable as long as you use the right strategy.

Good luck!

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