Trading the Trend - 12th October 2022: Short gold
In this week’s Trading the Trend, IG analyst Axel Rudolph FSTA looks to go short gold on a bounce to $1,689 per troy ounce with a stop-loss at $1,736 and a target at $1,610 which gives a 1:1.68 risk/reward ratio.
It follows last week’s long Dax 40 trade on the hourly chart which could have led to a 259 point profit but was stopped out at break even because the upside target hadn’t been reached.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
