empty
12.08.2022 11:47 AM
Trading tips for gold

This image is no longer relevant

Gold stopped rallying after the US released its latest data on inflation.

Quotes declined and closed lower during yesterday's US session, while today fell short of buy stops.

This scenario points at a further price decrease in the gold market.

This image is no longer relevant

Considering that the recent movements form a three-wave pattern (ABC), where wave A represents the bearish pressure yesterday, traders can enter the market by selling from current prices, with stop loss at 1798. Take profit on the breakdown of 1782.

This trading idea is based on the "Price Action" and "Stop Hunting" strategies.

Good luck and have a nice day!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback