03.11.202011:30 Forex Analysis & Reviews: Trading idea for gold

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Today is a rather volatile day for all trading instruments because of the US presidential elections.

And since the outcome of it is very difficult to predict, the best strategy right now is to trigger a false breakout, the range of which is around 10,000 pips:

In this approach, the channel is actually a sideways one, within which both the buyers and sellers are trapped and are forced to limit their losses at technical levels (the upper and lower limits of the channel). Such would trigger a huge price movement, raising profitability to an incredible level (about 10,000 pips!).

Of course, risks are needed to be monitored and controlled to avoid any losses. As we all know, trading in this market is very precarious and uncertain, but also very profitable if we use the right techniques

"Price Action" and "Stop Hunting" were used for the strategy.

Good luck!

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