- peak high formed from December to April
- peak low formed from July to October
- hold till price reaches 50 fibonacci retracement
- stop loss placed below 23.6 fibonacci retracement
- appropriate lot size extremely important for this - gold is pretty erratic and stop hunts are usually extreme - expect pullbacks in smaller time frames and especially once price reaches 38.2 level
- risk/reward: 1:1
- peak low formed from July to October
- hold till price reaches 50 fibonacci retracement
- stop loss placed below 23.6 fibonacci retracement
- appropriate lot size extremely important for this - gold is pretty erratic and stop hunts are usually extreme - expect pullbacks in smaller time frames and especially once price reaches 38.2 level
- risk/reward: 1:1