XAU Idea

14 Ağu 2019

A huge sell-off took place yesterday due to the trade-war announcement. This provides us a correction time, as the price is extremely overbought. We could enter a spot price, as the fibo level is around 32.8%. Or we could wait for a breakout, as it might retrace back a little more. The good things is this gives us a nice risk-and-reward ratio. If you want, you could extend the stop loss, normally I place my stop loss a little tight, and if a price goes to a correct direction, I place my stop loss at a break-even.