During today's Asian trading session, gold moved by 1,600 pips and updated the October 14 low. Then, it traded above this level by the European session. This scenario raises the chance of a further price increase.
But to resume growth, traders need to move to lower timeframes and enter the market by buying from current prices up to the 50% retracement level.
Set stop loss at 1637, then exit the market on the breakdown of 1683.
This trading idea is based on the "Price Action" and "Stop Hunting" methods.
Good luck and have a nice day! Don't forget to control the risks.
