empty
 
 
03.11.2020 11:30 AM
Trading idea for gold

This image is no longer relevant

Today is a rather volatile day for all trading instruments because of the US presidential elections.

And since the outcome of it is very difficult to predict, the best strategy right now is to trigger a false breakout, the range of which is around 10,000 pips:

This image is no longer relevant

In this approach, the channel is actually a sideways one, within which both the buyers and sellers are trapped and are forced to limit their losses at technical levels (the upper and lower limits of the channel). Such would trigger a huge price movement, raising profitability to an incredible level (about 10,000 pips!).

Of course, risks are needed to be monitored and controlled to avoid any losses. As we all know, trading in this market is very precarious and uncertain, but also very profitable if we use the right techniques

"Price Action" and "Stop Hunting" were used for the strategy.

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