Gold- Where to buy and join the ride?

1 abr

With March ending on a new all-time high at 2233, the first day of April brought about another surge of 300 pips, leading to the question: is it time to sell?
To be honest, there's no easy answer to this question.

Since last Monday, XAUUSD has indeed risen by more than 1,000 pips, and a correction could occur at any time.
The main issue lies in determining where to place a stop. After all, who's to say it couldn't rise another 1,000 pips before correcting?
In my opinion, it's better to wait for a correction and then join the trend once it's over. A suitable entry point could be found between 2220 and 2200.

However, if you're determined to sell during this strong upward movement, it's advisable to wait for a reversal candle on the H4 chart(at least) to establish a suitable stop-loss level. Only then should you target the aforementioned zone.