FX.co ★ Tips for trading gold

Gold prices plummeted to the weekly low as dollar demand rose after the US released activity data on its manufacturing sector.

Looking at this situation, market players could open long positions from a pullback to a breakdown, setting stop loss at 2010. Take profit upon the breakdown of 2038 and 2063.

The trading plan 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.