Gold trading ideas on April 20, 2020 - FX24.net


Time for ideas to arrive: 9:10 on April 20, 2020, Vietnam time.


Currency pair: XAUUSD


Time frame: Weekly and H4


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End of the week, Gold reached a new peak, the highest since 2012 here. After reaching the peak, it then plummeted forming a Pin bar discount pattern. This is a sign that Gold will continue to decline this week.


Besides, if you look at the graph in H4 frame, you can see that the newly formed peak is a double peak with a two-peak model. This is all the more confirming the downtrend this week.


Y-tuong-service-immediately-20.4.2020-frame-H4


Although the price will not go down a line, but will have an alternate recovery, but in general this week's priority is to beat down.



Recommendation: This is just a Trading Idea, not a trading signal. Predicting right and wrong is probabilistic. You should only use this as a reference. Use capital management methods to place orders and watch out for any market situations that may occur.


Author: Pham Khuong


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