Buy The Dip - Trading 101

After the hard crash of the stock markets (and cryptocurrency markets) we've seen gold suddenly take a big plunge. Obviously, you remember your trading lessons and you don't panic sell here. Instead, you buy the dip.

I marked a yellow area on this chart where I highlight the area I would still feel comfortable buying. If the price goes above $1940 a new uptrend might have started towards $2000 and I would say you missed the train.

Make sure to always have proper risk-reward for your trades. Don't buy too far in the middle between support and resistance.

I suggest a nice long trade here towards the ~$2000 region with a buy close to support around ~$1920. Good luck!

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

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The price fell down very nicely deep into the buy zone. I hope some of you have had the opportunity to get a great entry on XAU/USD (Gold) here.

The green candle that was just printed on the 1h shows confirmation on the support zone. We might be in for a great trade here! Good luck.