empty
 
 

Forex Analysis & Reviews: Trading tips for gold
time 12.08.2022 11:47 AM
time Relevance up to, 13.08.2022 10:29 AM

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
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
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.

  • 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
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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

Trading tips for EUR/USD

Yesterday's trading plan was all about increasing EUR/USD to continue the bullish momentum that started after Powell's speech. Plan: There was also a buy signal for the M1 TF, which

Andrey Shevchenko 09:38 2022-12-02 UTC+2

GBP/USD: trading plan for European session on December 1, 2022. Commitments of Traders. Overview of yesterday's trading. GBP up by over 200 pips

Yesterday, a few nice entry signals were made. Let's take a look at the M5 chart to get a picture of what happened. In the previous review, we focused

Miroslaw Bawulski 08:07 2022-12-02 UTC+2

EUR/USD: trading plan for European session on December 2. COT reports. EUR perked up yesterday, poised to assert its strength

Yesterday, EUR/USD generated a few signals for market entry. Let's analyze the 5-minuts chart and try to figure out what has actually happened. In the previous article, I turned your

Miroslaw Bawulski 07:45 2022-12-02 UTC+2

How to trade GBP/USD on December 2, 2022. Simple trading tips and analysis for beginners

GBP/USD surged on Thursday. The pair gained at least 200 points during the day. And this happened despite the fact that Britain had only released an index of business activity

Paolo Greco 22:50 2022-12-01 UTC+2

How to trade EUR/USD on December 2, 2022. Simple trading tips and analysis for beginners

The EUR/USD rose on Thursday. Despite the fact that a sharp growth was observed on Wednesday evening, the euro still significantly rose today while everything looks like a flat

Paolo Greco 22:50 2022-12-01 UTC+2

XAU/USD Technical Analysis and Trading Tips for December 1, 2022

The dollar continued to weaken on Thursday, while precious metals prices, in turn, continued to rise. On Wednesday, XAU/USD broke the 1759.00 key resistance level (200 EMA) on its daily

Jurij Tolin 14:50 2022-12-01 UTC+2

DXY Technical Analysis and Trading Tips on December 1, 2022

The 105.00 support level on the DXY chart is still standing and resisting a breakout, and economists say the 105.00 level should keep the dollar index from falling deeper. From

Jurij Tolin 14:00 2022-12-01 UTC+2

GBP/USD trading plan for North American session on December 1, 2022. Overview of morning trades. Traders sell GBP near 1.2020 again

In my previous analytical review, I drew your attention to the level of 1.2112 and recommended entering the market from it. Let's have a look at the 5-minute chart

Miroslaw Bawulski 13:32 2022-12-01 UTC+2

EUR/USD trading plan for North American session on December 1, 2022. Overview of morning trades. EUR slumps on weak eurozone data but bulls remain strong

In my morning review, I mentioned the level of 1.0421 and recommended entering the market from there. Let's see what happened on the 5-minute chart. As the euro fell amid

Miroslaw Bawulski 11:30 2022-12-01 UTC+2

Trading tips for Bitcoin

The previous trading plan in Bitcoin pointed out a possible increase in prices. This was realized yesterday, after a slew of negative news and Powell's less hawkish rhetoric

Andrey Shevchenko 10:44 2022-12-01 UTC+2
Can't speak right now?
Ask your question in the chat.