Just like WTI, Gold
is also sitting at long term support going back to 2013
. If it rallies from here, it is a nice risk:reward play (almost 1:6) With sound money management and waiting for prices to get to levels where your possible risk:reward is greatly enhanced is the name of the game.
We can also have price break below and extend further losses. Its not about if you are right or wrong but it's about how much you win when you are right and how little you lose when you are wrong.
"PROTECT YOURSELF AT ALL TIMES"