AregBabayn777

Best Prices for Short Term Long Position for Gold Spot

FX:XAUUSD   골드 스팟 / 미국 달러
I personally think the prices given in the chart can be potential points for a retracement.
Here are the reasons:
  • The downtrend wave is going for its third motive wave which can continue to the 3 prices given in the chart.
  • Fibonacci channel and retracement showed that the 3 prices are the primary potential points for a long position.
  • As you see, the demand zones match Fibonacci numbers.
NOTE: It is recommended to exit your trade as soon as the price gives it pullback. Additionally, it is better to check momentum in H1 and M15 timeframes to see if the price is saturated or not.
Although technical analysis gives us perfect positions for getting a profitable long on XAUUSD, fundamentals are a bit unstable (interest rate of USA: 2.5%) and the price may go down more than we have predicted. So, it is crucial to have a reasonable risk-reward ratio (1:3 is recommended) equivalent to your trade volume, leverage, and account.

Now tell me, which price is the best from your perspective?

XAUUSD
면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.