Should price action for Gold remain inside the 1,190 to 1,200 zone the following trade set-up is recommended:
- Timeframe: W1
- Recommendation: Long Position
- Entry Level: Long Position @ 1,195
- Take Profit Zone: 1,700 – 1,765
- Stop Loss Level: 995
Should price action for Gold breakout above 1,200 the following trade set-up is recommended:
- Timeframe: W1
- Recommendation: Long Position
- Entry Level: Long Position @ Retracements in the trend; buy orders during dips
- Take Profit Zone: 1,700 – 1,765
- Stop Loss Level: 995
Should price action for Gold breakdown below 1,190 the following trade set-up is recommended:
- Timeframe: W1
- Recommendation: Short Position
- Entry Level: Short Position @ 1,180
- Take Profit Zone: 980 – 1,000
- Stop Loss Level: 1,200
Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.
