Should price action for Gold remain inside the 1,288 to 1,292 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 1,290
- Take Profit Zone: 1,316 – 1,320
- Stop Loss Level: 1,275
Should price action for Gold breakout above 1,292 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ Retracements in the trend; buy orders during dips
- Take Profit Zone: 1,316 – 1,320
- Stop Loss Level: 1,275
Should price action for Gold breakdown below 1,288 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 1,287
- Take Profit Zone: 1,268 – 1,272
- Stop Loss Level: 1,296
Open your PaxForex Trading Account now and add this commodity to your commodity portfolio.
You may also be interested in reading the following posts: