FX.co ★ Trading idea for gold

Since signals in the H4 chart are pointing to a further decline, investors can continue the trading idea presented last June 4, which was to open short positions.

But this time, the target is to push gold to $ 1,850.

So, considering that there is a three-wave pattern (ABC) where wave A represents the selling pressure on Friday, investors can open short positions on lower time frames. And like before, stop loss should be set to $ 1,900, and then take profit on the breakdown of $ 1,850.

This plan follows the framework of both Price Action and Stop Hunting methods.

Good luck and have a nice trading day!