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26.04.202111:53 Forex Analysis & Reviews: Trading idea for gold

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 26.04.2021 analysis

Gold failed to move higher than $ 1800 last Friday and closed with a decline instead. As a result, a head-and-shoulders pattern was formed, where buyers are trapped at very specific levels:

Exchange Rates 26.04.2021 analysis

To avoid losing profit, traders should take this strategy in consideration:

Exchange Rates 26.04.2021 analysis

The target is to push the price below $ 1675. To do this, enter short positions and work for the development of an ABC pattern.

Follow the Price Action and Stop Hunting methods.

Good luck!

Andrey Shevchenko
Analytical expert of InstaForex
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