Gold prices fell, as the Fed's interest rate decision and press conference caused dollar to surge. This provided excellent trading opportunities for buyers in the medium term.
Looking at the three-wave pattern, where wave A represents last week's upward momentum, traders could consider long positions from 1922 to 1916. Place stop-loss at 1901, and set take-profit upon the breakdown of 1952.
This trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.
Good luck in trading and don't forget to control the risks! Have a nice day.
