Forex world

October 18, 2023

Gold price October 18, 2023: Buy and hold

Opening the Asian trading session today, Gold price rose strongly to overcome an important resistance level at the price of 1932$.

On the H4 and M30 time frames, the current trend is still uptrend.

Gold's next resistance level is at the price range of $1947. According to our observations, today Gold will soon increase to this price range to test this important resistance level.

Going back to the M30 time frame, it is easy to see that the main trading strategy for today will be: BUY and HOLD, at least until the price reaches $1947 at the resistance zone on the H4 time frame .

However, to optimize the entry point, we recommend that you split the volume to enter orders at different price levels. Because, during the Asian trading session, the trading volume in the market is often low, so the price will have adjustments.

Good luck.

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