Good day, dear traders!
A very interesting and, fortunately, regularly recurring event occurred last night and this morning, which I can’t help but mention. As you probably already know. Yesterday was a holiday in the United States – Martin Luther King Day, and American trading platforms were not working. Yesterday, I spoke about the level of 1563 that is important for gold sellers:
During the Asian session, there was a powerful upward impulse that relieved sellers from their sad stop orders starting from January 13. Asians took advantage of the reduced liquidity on the background of a weekend in the US and took gold sellers out of the market.
I recommend closing 2/3 of the position at the breakout of today’s minimum.
Keep the rest until the area of 1546, formed by the lows of January 14 and 16.
Good luck with trading and control your risks!