For Traders

Analytical Reviews

Trading plan

14.01.202212:35 Forex Analysis & Reviews: Trading tips 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 has been rallying in the past days, thanks to reports that prompted increased demand for the yellow metal.

The first one was the data on US employment, followed by Powell's speech in the Senate and latest inflation data.

All this trapped sellers in the market, that is why they had no choice but to place stop orders above 1831. In this situation, it is best to refrain from taking short positions with stop loss at 1831. Meanwhile, longs could be taken up to the breakdown of 1831.

Good luck!

Both trading tips are based on the framework of price action and stop hunting strategies.

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.