XAUUSD long entry option. Many have sought a private message as to when to go long in gold trading. (It would have been $ 1,200.) I recommended it to many investors back then. At these levels, it is always advisable to wait for a correction. To be able to find an effective STOP LOSS location. The current level is like this. Because the price of gold follows a set of rules. I expect to test back 50% of the D1ATR. From this level you can move into a long position. In SL: 1614, 03usd. A TP: 1762.83usd RR: 2.26
With your analysis what is the maximum gold will go down to before going back up please ?
meszaros
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@FX_Trader1, Currently, the correction has changed from D1ATR to 1WATR. That is why I also look at the 50% distance here. Therefore, the lowest level is 1621.722usd
If I can ask. According to your judgement, how long is that position?
meszaros
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@john_fallon, In case my analysis works, it is 2-3 weeks.
arsal
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@meszaros, at 1762 will you close all your buys or you will still be looking for more upside? And do you have your open positions from 1200s level? Sorry if I asked something personal.