empty
 
 
15.04.2021 12:14 PM
Trading idea for gold

This image is no longer relevant

Gold traded downwards, but the movement stopped halfway to the target level.

This image is no longer relevant

As a result, an ABC wave pattern was formed, and since wave "A" has a bullish structure, bearish traders should begin closing their short positions and consider entering a long one. This is because a pullback should occur in the market, the direction of which is as presented in the chart above. Such movement is in accordance with the Price Action and Stop Hunting strategies.

Of course, risk should be monitored to avoid losing profit. This financial market is rather unstable, so correct approaches are needed to gain money.

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