FX.co ★ Trading idea for gold

Gold dropped to $ 1,850, following a strong two-month rally. Such a movement left great levels for Stop Hunting, which may set off another rise in the market.

To begin, the first target is the double top last year located at $ 1965.

Then, the next one is $ 1,903, which can be achieved in the H4 TF.

To pull this off, investors should open a long position and set the targets at the levels mentioned above. Potential movement towards $ 1965 is 4,000 pips, while the movement towards $ 1,903 could reach as much as 10,000 pips.

This trading idea is under the framework of Price Action and Stop Hunting.

Good luck!