empty
 
 
20.06.2022 01:57 PM
Trading tips for gold

This image is no longer relevant

The trading plan presented last June 16 talked about a decrease in gold prices.

This image is no longer relevant

That came true today after wave C began to form in the daily chart, in the form of an absorption.

This image is no longer relevant

Given that there is a three-wave (ABC) pattern, where wave A represents the selling pressure in the market, traders can open short positions from current prices up to the 50% retracement level. Set stop loss at 1873 and take profit on the breakdown of 1809, 1777 and 1675.

This strategy is based on the Price Action and Stop Hunting methods.

Good luck and have a nice day!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start 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

GBP/USD: Forecast and trading signals on March 27. COT report. Detailed analysis of price movement and trades. The pound is following the euro again

On Friday, the pound followed the euro's example. GBP started to fall at the beginning of the European trading session. But in the pound's case, it seems logical

Paolo Greco 08:05 2023-03-27 UTC+2

EUR/USD: Forecast and trading signals on March 27. COT report. Detailed analysis of price movement and trades. Long overdue technical correction

On Friday, EUR/USD entered a bearish correction. Prior to that, the euro was significantly rising, so the correction was inevitable. And don't forget the fact that the single currency's growth

Paolo Greco 08:05 2023-03-27 UTC+2

How to trade GBP/USD on March 27. Simple trading tips and analysis for beginners

On Friday, GBP/USD settled below the ascending trend line and also began a bearish corrective movement. I've already mentioned that we are just waiting for the uptrend

Paolo Greco 17:45 2023-03-26 UTC+2

How to trade EUR/USD on March 27. Simple trading tips and analysis for beginners

On Friday, EUR/USD continued its bearish corrective movement and overcame the ascending trend line. Lately, I have been saying that I expect the euro to fall instead of rise. Simply

Paolo Greco 17:25 2023-03-26 UTC+2

GBP/USD: trading plan for the American session on March 24 (analysis of morning deals)

I focused on the level of 1.2284 when I made my morning forecast and suggested trading decisions based on it. Let's take a look at the 5-minute chart

Miroslaw Bawulski 19:10 2023-03-24 UTC+2

Trading tips for EUR/USD

Following the release of GDP data in Spain and manufacturing activity in Germany, EUR/USD pulled back from the weekly high, opening up good price levels for long positions

Andrey Shevchenko 16:00 2023-03-24 UTC+2

USD/CAD outlook for March 24, 2023

Today, the focus of market participants following the Canadian dollar quotes will be the release (at 12:30 GMT) of retail sales report by Statistics Canada. And this will be perhaps

Jurij Tolin 14:31 2023-03-24 UTC+2

EUR/USD: trading plan for American session on March 24. Overview of morning trades. EUR declines lower

In my morning article, I turned your attention to 1.0801 and recommended making decisions with this level in focus. Now, let's look at the 5-minute chart and figure out what

Miroslaw Bawulski 11:37 2023-03-24 UTC+2

EUR/USD and GBP/USD: trading plan for beginners on March 24, 2023

At a monetary policy meeting yesterday, the Bank of England raised interest rates by 25 basis points to 4.25%, the highest rates since October 2008. Back then, interest rates were

Gven Podolsky 09:21 2023-03-24 UTC+2

EUR/USD: trading plan for European session on March 24. COT report. The euro is tired of rising

Yesterday, traders received several signals to enter the market. Let us take a look at the 5-minute chart to figure out what happened. Earlier, I asked you to pay attention

Miroslaw Bawulski 08:36 2023-03-24 UTC+2
Can't speak right now?
Ask your question in the chat.