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26.09.202210:50 Forex Analysis & Reviews: Trading tips for gold

Exchange Rates 26.09.2022 analysis

Two events happened after a rather long sell-off in gold. First is the start of purchases, which may lead to a strong correction in prices.

Exchange Rates 26.09.2022 analysis

And since previous movements form a three-wave pattern (ABC), where wave A represents bullish pressure, traders can enter the market by buying up to the 50% retracement level, with stop loss at 1631. Exit the market on the breakdown of 1657 and 1688.

The second event is the sell stop orders left by market makers, which can be used as basis when entering the market using "Stop Hunting" strategy.

Exchange Rates 26.09.2022 analysis

In this case, the potential price movement is more than 4,000 pips.

The trading ideas are based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Andrey Shevchenko,
Analytical expert of InstaSpot
© 2007-2024
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