Good afternoon, dear traders! Congratulations to all Orthodox Christians on Christmas! I wish you well and financial well-being! I present to you the trading idea for gold based on stop auctions.
So, tensions in the Middle East drove gold to historic highs, updating the extreme of last year last night. In the morning, I recommended working down to a mirror level in my morning video review on Instaforex's YouTube channel.
Gold ideally tested the "mirror", and the yellow metal went into consolidation. In this case, a very interesting picture develops, where buyers and sellers are held hostage by two extremes:
A rather interesting gold auction is emerging, where you can successfully work from its borders with false breakdowns.
Sales are after a false breakdown of 1580 with the target of 1555.
Purchases are after a false breakdown of 1555 with a view to 1580.
Good luck with trading and control the risks!
