FX.co ★ Trading tips for gold

Yesterday's trading plan for gold talked about a decrease in gold prices.

That came true after the Fed raised the rate more than planned.

So, given that there is a three-wave (ABC) pattern, where wave A represents the selling pressure on Monday, traders can open short positions from current prices and set stop loss at 1842 and 1865. Take profit on the breakdown of 1780 and 1675.

This strategy is based on the Price Action and Stop Hunting methods.

Good luck and have a nice day!