Good day, dear traders! I present to your attention, a trading idea for gold.
The price of gold significantly increased yesterday, due to the fact that the Congress is slowing down the proposal of Trump's "package of anti-coronavirus measures" worth almost $ 2 trillion:
However, sooner or later, these measures will be adopted and will pass through the Congress in one form or another, as everyone is well aware that it is not necessary to delay this issue, since more and more Americans are being infected by the virus.
Thus, in the case of the weakening of gold, I suggest using the ABC structure on the daily timeframe:
Within the framework of the "stop hunting" system, with the target level of profit taking at 1444, we have a huge potential of getting 13000p.
To enter this movement, I recommend using intraday setups on smaller timeframes in the US session, or wait for the signal of the daily price action in the coming days. In any case, I recommend monitoring this situation with an objective short-term potential.
Good luck in trading and control your risks!
