FX.co ★ Tips for trading gold

Gold broke the short-term trend yesterday and has approached the level of 2070 three times. It currently tests the breakdown area, which makes further growth possible.

Considering the situation, traders should look at long positions with a potential pullback to the breakdown area. Set stop-loss at 2054 and take profit upon the breakdown of 2057, 2050, and 2046.

The strategy follows the framework of the "Price Action" and "Stop Hunting" methods.

Good luck in trading and don't forget to control the risks! Have a nice day.