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FX.co ★ Tips for trading gold

Tips for trading gold

Strong initial jobless claims data from the US will keep buyers trapped below the level of 2034.97. This means that traders should consider short positions when trading gold.

 Tips for trading gold

To be precise, market players should sell gold after the breakdown and set stop-loss at 2046.50. Take profit on the breakdown of 2034.62.

The trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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