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03.08.2023 11:14 AMFollowing a five-wave correction, gold tested the level where there was a breakdown in early July, to which there was a positive reaction. Data on the US labor market may become a catalyst for further growth.
Considering the three-wave (ABC) pattern where wave "A" represents the upward movement seen in early July, market players could open buy positions up to the 50% retracement level. Also place positions on smaller time frames, with take-profit on the breakdown of 1985.
This plan came from the framework of the Price Action and Stop Hunting strategies,
Good luck in trading and don't forget to control the risks! Have a nice day.
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