FX.co ★ Trading tips for gold

Gold was actively approaching the 2020 high, but could not overcome $2,075.

Instead, there was a 50% rollback, which lowered the quote by 17,000 pips, bringing it under $1900.

But yesterday, demand for the yellow metal increased, thanks to the decision of the Fed to raise rates by 0.25 bp.

This situation calls for long positions, at least until the quote breaks through the yearly high at $2,075. Such a move offers a profit of about 15,000 pips.

This idea is based on the Price Action and Stop Hunting strategies.

Good luck and have a nice day!