Yesterday, we sold at the 1937 resistance level, but the price subsequently broke to new highs, resulting in a -30 pip loss on our 1937 sell position. With the price now above this former resistance level, we anticipate it to act as a new support. Our strategy is to initiate buy positions at 1937 with a stop-loss set at 1934. As previously mentioned, our target for these buy positions in gold is set at 1961. Best of luck with your trades!
Trade closed: target reached:
We were able to hold buys from 1937 to 1952 before getting taken out in profit. Price broke thru on the retest and we locked in sells from the same lvl after it was broken.