Etrader

News Trading with a green flag on ADP Non-Farm Employment Change & Unemployment Claims and overbought market we sell like crazy.

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Just wanted to share a quick tip💡 on trading gold in the forex market. One important thing to keep in mind is key levels. These are price points on the chart that have a significant impact on the market and can potentially indicate a change in trend.

Some key levels to watch out for in gold trading include round numbers (like $1,830 or $1,725) previous highs and lows, and Fibonacci levels. By keeping an eye on these levels, you can make more informed trading decisions and potentially increase your chances of success.

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Reversal Breakouts start the same way as Continuation Breakouts in the fact that after a long trend, there tends to be a pause or consolidation.

The only difference is that after this consolidation, forex traders decide that the trend is exhausted and push the price in the opposite or “Reverse” direction.

As a result, you have what is called a “Reversal Breakout”. You can see it at 1D gold chart.

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