Should price action for Gold remain inside the 1,208 to 1,213 zone the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ 1,208
- Take Profit Zone: 1,170 – 1,175
- Stop Loss Level: 1,220
Should price action for Gold breakdown below 1,208 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 1,170 – 1,175
- Stop Loss Level: 1,220
Should price action for Gold breakout above 1,213 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Long Position
- Entry Level: Long Position @ 1,215
- Take Profit Zone: 1,247 – 1,252
- Stop Loss Level: 1,208
Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.
