For Traders

Analytical Reviews

Technical analysis

13.09.202115:29 Forex Analysis & Reviews: Trading idea for gold

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold failed to stay above the psychological level - $ 1,800. Now it is approaching $ 1,781 for the fourth time, putting pressure around the level. In most cases, this scenario ends in a breakdown. So, it is better to take short positions instead of long ones.

In the event of a true breakdown, a wave of sales may provoke a further drop to $ 1675.

If that happens, gold could get a potential rebound of as much as 11,000 pips.

After the breakdown of $1781, it is recommended to leave some of the positions up to $ 1675.

This analysis is based on Price Action and Stop Hunting strategies.

Good luck and have a nice day!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.