Should price action for Gold remain inside the 1,202 to 1,207 zone the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ 1,204
- Take Profit Zone: 1,152 – 1,157
- Stop Loss Level: 1,224
Should price action for Gold breakdown below 1,202 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: 1,152 – 1,157
- Stop Loss Level: 1,224
Should price action for Gold breakout above 1,207 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Long Position
- Entry Level: Long Position @ 1,214
- Take Profit Zone: 1,224 – 1,229
- Stop Loss Level: 1,202
Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.
