FX.co ★ Tips for trading gold

Gold hit and surpassed the sellers' area, leaving a false breakout above the level of 2040.

In this situation, buyers will be forced to set their risks only below yesterday's low.

Considering this, market players should take short positions with a 50% retracement from the false breakout. Set stop-loss at 2047 and take profit upon the breakdown of 2027.

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.