Gold trading ideas today.
The movement of gold using mapping Analysis on the daily
chart, here is an indication of the correction on the previous day, the
downward correction in my opinion is not a full trend reversal so here the
price movement is still in a relaxed condition, moving bearish for correction
only. The main trend is still starting early, here buying can be a trading
recommendation for today, because it looks like the price is still in a relaxed
condition moving above the dynamic support formed from the moving average.
Buy trading positions for this gold commodity can be started
at the price range of 1760.00 by targeting a price increase to the resistance
area at the price level of 1810.00 with a price increase that is still quite
long when viewed from the pips size, here are still a few pips to the north of
the range of 6000 pips in the future . So if this analysis really provides a
valid direction then I think the buy option can generate big profits.
Meanwhile, the stop loss position here is placed at the
price level area of 1720.00, or the support area which might be the benchmark
for the next trade if the price actually moves there. Here are the details for
today's gold trading plan.
GOLD trading plan
Open position BUY 1760
Take Profit 1810.00
Stop loss 1720.00
Disclaimer :
Trading forex trading is very risky, the analysis above is
from my personal point of view, for trading reference material, the final
decision all depends on the respective trader.