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XAUUSD did not complete the fall after the price collapse

  • Aug 10 2021
  • by
  • Analyst AZA
XAUUSD did not complete the fall after the price collapse

XAUUSD did not complete the fall after the price collapse

The day before yesterday, the Gold price fell sharply by more than 8000 pips. There has not been such a strong price change for a long time for this trading instrument. As a rule, after such a fall in price, it does not recover and does not reverse with the same amplitude. The price was able to return some of the lost positions, but not more than half. Most likely, the fall in prices may continue. Therefore, we will place an order to open a short position below the nearest support level at 1723.00. It is better to place a take profit order within this price change, because the price is unlikely to make a new low anytime soon.

Symbol: XAUUSD
Order Type: Pending Order - Sell Stop
Entry Price at 1723.00
Take Profit at 1710.00
Pips Earning: 1300

Forex trade strategy and trading signals for major currency pairs:
EURUSD sell at the price of 1.1710
USDJPY buy at the price of 110.55
GBPUSD sell at the price of 1.3850
USDCHF buy at the price of 0.9230

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The profit can be $1300.00 if the trading volume of 100 Tr. Oz.

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