Gold saw a brief correction following the strong upward momentum in the middle of the month. This could signal a continuation of growth in prices.
Looking at the three-wave pattern (ABC) where wave A represents January 17-19's price movements, market players could consider long positions with a 50% retracement according to Fibonacci. Set stop loss at 2016 or 2005, and then take profit upon the breakdown of 2063.
The trading plan 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.
