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20.01.202113:12 Ανάλυση και κριτικές Forex: Trading idea for gold

Exchange Rates 20.01.2021 analysis

To date, gold continues to rally in the markets, approaching a price level of 1863. The growth took place during the Asian session, and the movement totaled about 4,000 pips.

Exchange Rates 20.01.2021 analysis

Taking this into account, it would be best to open positions targeting 1863 and beyond. Otherwise, you will fall into a sellers trap, aside from the fact that there is no place here to hide risks.

But in case of a true breakout in 1863, gold's next target will be 1965.

Of course, risks are needed to be monitored to avoid losing profit. Trading is very precarious, but also profitable if the approach used is correct.

The strategy above uses Price Action and Stop Hunting methods.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Andrey Shevchenko,
Analytical expert
InstaForex Group © 2007-2021
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