Gold: New Buying Opportunity

The price bounced from the support. It gave us a new trade opportunity. We could use a reversal signal for buying. Stop orders for long trades must be placed below 1848$. Profit targets should be at the daily downtrend line and 1900$ resistance. Risk per trade must be 1-2% of the capital.

RSI confirmed the price reversal. MACD histogram is going to support an upward movement.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.