FX.co ★ Trading plan for gold

Gold prices increased today, at the end of the European session.

Long positions will prompt further price increases in the market.

Given that there is a three-wave (ABC) pattern, where wave A represents the buying pressure during the European session, traders can buy from current prices up to the 50% retracement level. Set stop loss at 1852 and take profit on the breakdown of 1857.

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

Good luck and have a nice day!