Should price action for Gold remain inside the 1,230 to 1,234 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1,232
- Take Profit Zone: 1,200 – 1,204
- Stop Loss Level: 1,248
Should price action for Gold breakdown below 1,230 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 1,200 – 1,204
- Stop Loss Level: 1,248
Should price action for Gold breakout above 1,234 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1,235
- Take Profit Zone: 1,256 – 1,260
- Stop Loss Level: 1,223
Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.
