For Traders

Analytical Reviews

Trading plan

25.05.202314:28 Forex Analysis & Reviews: Tips for trading 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.

Following yesterday's bearish momentum, gold entered an accumulation phase, while buyer liquidity remains low.

As there is a three-wave (ABC) pattern, where wave "A" represents yesterday's downward movement, the appropriate strategy for gold is to open short positions up to the 50% retracement level. Set stop-loss order at 1984, and then take profit upon the breakdown of 1951.

The presented trading idea comes from the framework of the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.

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.