Since recent market signals point to a further decline in gold, investors can continue the trading idea presented last June 7, which was to open short positions. This strategy could be done until gold breaks through $ 1,900.
The pin bar on the H4 chart represents the selling pressure on Tuesday, which means that traders can open short positions so that price will decline in the market. The first target is $ 1,880, and the second is $ 1,850.
This strategy is under the framework of Price Action and Stop Hunting methods.
Good luck and have a nice trading day!
