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Trading tips for gold

US data released yesterday pushed demand for dollar up.

Trading tips for gold

As a result, gold prices declined, once again nearing buyers' stops at 1812.

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Trading tips for gold

Given that there is a three-wave pattern (ABC), where wave A represents the selling pressure yesterday, investors can sell from current prices up to the 61.8% and 50% retracement levels. Set stop loss at 1840 and take profit on the breakdown of 1800.

This strategy is based on the Price Action and Stop Hunting methods.

Good luck and 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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