XAUUSD accumulation fractal is built. My assumption is that gold has started to build up a fractal. The analysis shows that the lower levels of these accumulation fractals are below the exchange rate peak at 4.5%. Therefore, we apply this set of rules. It is currently at 1590usd level. Therefore, we can move from this level to the long position again. Target price 1660usd.
Hope youre right. I was thinking the same. Caught long at 1563. Lets see.
UnknownUnicorn5711331
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By the way. You hit your SL 100%.
meszaros
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@john_fallon, Thanks for the comment. It struck me as well. :)
meszaros
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@john_fallon, Evening tonight I sent some people a technical explanation for pulling the STOP LOSS closer. I've already left the LONG POSITION. Gold started a fractal copy. Already in my previous analysis there was a 1399usd level visible. As a rule of fractal copying, the movement copies the distance between the opening and closing prices (also called candle bodies). You don't copy spikes, since the spikes are different for every market maker. Yesterday, bitcoin and other cryptocurrencies began spike copying. Very rare. In the event that the gold exchange starts "spike copying" like yesterday with bitcoin, it could collapse at 1399usd.
meszaros
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@meszaros, Those who have taken a long position do not have to quit, but I recommend a narrow stop loss.
UnknownUnicorn5711331
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Considering current price and situation. How likely is the price of gold to drop and how low could it get? Thank you.