Good afternoon traders! Here is my gold analysis.
Yesterday's trading, despite conflicting movements, closed with purchases, which formed a pin bar near the key highs of 1738 and 1747:
H1 (hourly chart):
I suggest working on their break down from the pullback of yesterday's initiative.
After reaching the first goal, two scenarios are possible:
1. False breakdown.
2. Trend continuation to the second and third goal.
Close longs in the first scenario, whereas hold until the price breaks the upper gold extremes in the second.
The trading idea is based on the "Price Action" and "Stop Hunting" methods.
The long-term scenario will be halted if the base of the pin bar (1690) is broken.
Good luck!
