XAUUSD: Update
Updated
I think Gold has bottomed here, so, after today's close, we can buy a 0.5% risk position, with stop loss 1 tick under today's low. To be safe, don't place the stop, but watch it. Position size should be based on this, or if conservative, daily volatility.
So, two options:
Good luck,
Ivan Labrie.
So, two options:
- Buy a new daily high, after today's daily close, Risk 0.5% if price moves under today's low.
- Buy a 0.5% risk position, risking a 58 dollar drop from here. Add another position with the same size tomorrow.
Good luck,
Ivan Labrie.
Note
Up we go.Note
Strange turn of events, it could still rally further from here, but since the risk event turned into a flop for equity bears, it will be tricky, and we have risk with the December FOMC meeting coming. I still think gold can rally from here but keep risk small.
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