Should price action for Gold remain inside the 1,246 to 1,250 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1,248
- Take Profit Zone: 1,202 – 1,206
- Stop Loss Level: 1,270
Should price action for Gold breakdown below 1,246 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: 1,202 – 1,206
- Stop Loss Level: 1,270
Should price action for Gold breakout above 1,250 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1,251
- Take Profit Zone: 1,286 – 1,290
- Stop Loss Level: 1,235
Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.
