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05.07.202111:41 Forex Analysis & Reviews: Trading idea for gold

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Gold's movements last week were definitely in favor of bullish traders. It not only carried out buyers' target levels, but also accumulated sell stops at 1797, which is the only possible level for medium-term traders.

Considering this scenario, it is best to abandon short positions, at least until there is a false breakdown at $ 1797 and $ 1800.

Another option is to work for a further increase, which will happen by pushing gold above the aforementioned levels.

All these are under the framework of Price Action and Stop Hunting strategies.

Good luck and have a nice trading day!

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