POI of gold is 1190-1196. From the chart you can see that the price have a biasness above the POI. We can safely assume that demand is present, and price will heads up in the future again (as long as the demand is still present). Thus going long is a better option than short. You will want to place your SL at the POD line, the price which is rarely visited thus lowering your chance greatly of being stopped out. POI is not a hard support, it can still drop below the POI. POI just basically means the Price of Interest.
If you wish to know indepth details about POI and PODs, do visit my patreon page (in my signature).
Have a good week everyone
If you wish to know indepth details about POI and PODs, do visit my patreon page (in my signature).
Have a good week everyone
