empty
 
 
23.10.2020 12:13 PM
Trading idea for gold

This image is no longer relevant

Although yesterday, gold closed a level lower than we expected, our bullish trading idea for the medium-term is not canceled. The target profit remains at the price level of 1933.

This image is no longer relevant

In that regard, we could still follow the direction of our earlier technique:

This image is no longer relevant

As we can see on the chart, the quotes have formed an ABC pattern, in which "A" is the impulse recorded yesterday during the US session.

Therefore, from the current prices, long positions may still be set up to 1933. However, it would be inadvisable if the quote moves down 1894.

The risk/reward ratio of such a transaction is 1.5 to 1.

Good luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
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
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

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