Strong initial jobless claims data from the US will keep buyers trapped below the level of 2034.97. This means that traders should consider short positions when trading gold.
To be precise, market players should sell gold after the breakdown and set stop-loss at 2046.50. Take profit on the breakdown of 2034.62.
The 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.
