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Gold stopped rallying after the US released its latest data on inflation.
Quotes declined and closed lower during yesterday's US session, while today fell short of buy stops.
This scenario points at a further price decrease in the gold market.
Considering that the recent movements form a three-wave pattern (ABC), where wave A represents the bearish pressure yesterday, traders can enter the market by selling from current prices, with stop loss at 1798. Take profit on the breakdown of 1782.
This trading idea is based on the "Price Action" and "Stop Hunting" strategies.
Good luck and have a nice day!
Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.
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