Gold: New Trade Opportunities
The price bounced from the resistance zone and broke the local uptrend line. We could open short trades following that signals. I wrote about such a trading plan in this post.
What's next? If you missed reversal and breakout signals, it is better to wait for a short term upward movement. The reversal signal from 1900.00$ zone will give another trade opportunity for shorting. Stop orders should be placed above the local swing high and the resistance. The profit target stays 1848.00$ support. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
What's next? If you missed reversal and breakout signals, it is better to wait for a short term upward movement. The reversal signal from 1900.00$ zone will give another trade opportunity for shorting. Stop orders should be placed above the local swing high and the resistance. The profit target stays 1848.00$ support. Risk per trade must be no more than 1-2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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