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26.04.2021 11:53 AM
Trading idea for gold

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Gold failed to move higher than $ 1800 last Friday and closed with a decline instead. As a result, a head-and-shoulders pattern was formed, where buyers are trapped at very specific levels:

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To avoid losing profit, traders should take this strategy in consideration:

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The target is to push the price below $ 1675. To do this, enter short positions and work for the development of an ABC pattern.

Follow the Price Action and Stop Hunting methods.

Good luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
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