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Gold prices jump as trade war returns
Gold futures tested the strong support area between 1670–1700 on last Friday. It is anticipated that Gold to jump up to react on the tension of trade war between US and China.
On H1 timeframe, Gold broke out the swing high during the London session with a demand bar. A pullback into the demand zone formed by the demand bar can be a good long entry for a short term up swing, as per the trading strategy video on identifying support and demand zone for swing trading as shown below:
Below are the key parameters for Gold futures potential long setup for trading session on 4 May 2020, with a potential reward to risk ratio of 1.6.
Entry: long limit order at 1709
Stop loss: 1695
Take profit: 1733
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Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
