FX.co ★ Trading tips for gold

Following the release of US employment report, gold prices declined, but seller liquidity remained untouched.

A clear upper horizontal boundary also formed during the four days of trading.

Having this situation, market players should consider long positions, with stop-loss set at 2009. Take profit upon the breakdown of 2041.

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.