gold-1024x398GOLD spot market on the H4 chart despite the occurrence of purchase signals in the form of bullish engulfing (D1), was not able to break above correction line. There is huge possibility of another retrace to the support zone. We may trade shorts in the short-term and buy CALL option only when the price will rebound from the support line or break through the correction line.

GOLD_screen 04.02

OptionTrade offers 77% return for GOLD option. E.g. when you invest 100USD in CALL option (UP) and the price will be even slightly higher than in the point when you bought the option, OptionTrade pays you 177USD. If the price is lower, you will lose invested money. But you need to remember, that you cannot forfeit more than you trade. Open your account now!

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.