Gold: Buying Opportunity from SMA200

The Gold could give us a profitable trade based on a bearish divergence.
I wrote about that short trade in this post.

After the downward movement, the price bounced from SMA200. It gave us a new buying opportunity based on a reversal signal. When the price moved above the local resistance, we got an exact buy signal in the direction of the main trend.

Here is an example of a long trade:
Buy above 1927.50
Stop below 1860.00
Profit Target at 2073.00

Risk per trade must be 1-2% from the capital.



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.