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08.12.202212:07 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 08.12.2022 analysis

Therefore, following a successful short initiative on Friday, gold prices declined by 50%, returning to the range of profitable sales. We provide a trading suggestion to bring down gold quotes.

In actuality, "ABC" has a three-wave structure, with the Friday short initiative serving as one of the waves.

Take into account short positions with a rollback of 50 and 61.8% on Fibo in accordance with the plan depicted.

The dangers only apply to 1810. The break-down of the profit should be 1764, 1726, and 1613.

The "Price Action" and "Stop Hunting" methods are used to frame the trading concept.

Andrey Shevchenko
Analytical expert of InstaForex
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