Gold prices bounced back after a strong upward momentum during the Asian session. This provides buyers good areas to open long positions.
Looking at the three-wave pattern (ABC) where wave A represents today's movement, market players could consider long positions with a 50% retracement. Set stop loss at 2018, and then take profit upon the breakdown of 2038 and 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.
