Good afternoon, dear traders. I present to your attention a trading idea for gold.
Yesterday, after the release of inflation data and Trump’s next “tweets”, gold at the American session showed a plunge, losing 1700 p over the evening. This, in turn, gave rise to a wave of fixing buyers who are above the psychological level of 1500. Today, we observed a third wave of these sales which began at the European session. In fact, we have the structure of ABC:
But the goals above also remained, with the news. Moreover, the collapse of gold does not correlate with either EURUSD or GBPUSD, which can be banal wiring.
Therefore, I propose to look at the long positions – carefully, without fanaticism, try to gain a position in the American session, and if it closes at +, continue to gain next week in order to take profits at 1520, which can amount to almost 4000p.
Follow the rules, trade success and have a good weekend!
The material has been provided by InstaForex Company – www.instaforex.com