Gold trading idea

Important Update for RobotFX Visitors

We want to sincerely apologize for any confusion or inconvenience caused by our recent website restructuring.

The main RobotFX hub has officially moved to our new, streamlined address at robotfx.org (without the "www" prefix). While our main operations have shifted, we want to reassure you that this archives site, old.robotfx.org, will remain fully active. You can still access our complete library of past posts, historical trading analysis, and legacy articles right here.

However, for the latest updates, newer content, and a significantly faster, more optimized browsing experience, we highly recommend heading over to our primary home at https://robotfx.org.

Thank you so much for your continued support and patience as we improve our digital services.

Good afternoon, dear traders! I present to your attention a trading idea for gold.

So, after working out our trading recommendation for a fall from 27.07.22, gold did not consolidate under the falsely broken level of 1712, which confirms the formation of a large long three-wave ABC structure according to the following scheme:

In fact, we have a three-wave structure of "ABC", where the long initiative acts as wave A on July 21-22. I propose to consider long positions according to the scheme shown above.

Limit risks at 1,710 and 1,700. Take profit on the breakdown of 1,739, 1,744 and 1,752.

The trading idea is presented within the "Price Action" and "Stop Hunting" methods.

Good luck in trading and control the risks!

Trading analysis offered by RobotFX and Flex EA.
Source