FX.co ★ Gold trading idea

Good afternoon, dear traders! I present to your attention a trading idea for gold.

So, after working out our trading recommendation for a fall from 27.07.22, gold did not consolidate under the falsely broken level of 1712, which confirms the formation of a large long three-wave ABC structure according to the following scheme:

In fact, we have a three-wave structure of "ABC", where the long initiative acts as wave A on July 21-22. I propose to consider long positions according to the scheme shown above.

Limit risks at 1,710 and 1,700. Take profit on the breakdown of 1,739, 1,744 and 1,752.

The trading idea is presented within the "Price Action" and "Stop Hunting" methods.

Good luck in trading and control the risks!