FX.co ★ Trading tips for gold

Gold rolled back by 50%, opening good opportunities to take long positions in the market.

But as a reminder, the main target is to prompt a breakout at the double top in 2020 and 2022.

As such, considering that there is a three-wave pattern (ABC), where wave A is the buying pressure last March 29 to March 31, traders should take long positions up to the 50% retracement level of the current prices. Set stop loss at 1900 and take profit on the breakdown of 2075.

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

Good luck and have a nice day!