FX.co ★ Trading idea for gold

Gold has stopped at a very interesting level , that is, in 1854, where gold bulls have placed their stop orders.

Taking this into account, the most profitable transactions in the market are short positions, as such would bring the quote down towards our target price level.

In particular, sell gold from 1885, in order to get a price drop to 1854. Such is a classic trap that traders occasionally set up, which you shouldn't miss the chance to make profit, especially since it has a risk/profit ratio of 3:1.

Of course, traders have to closely monitor the risks to avoid losing money. Trading in this market is precarious, but also very profitable as long as you use the right approach.

Price Action and Stop Hunting were used for this trading strategy.

Good luck!