FX:XAUUSD   Gold Spot / U.S. Dollar
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:

  • 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.
Comment: Up we go.
Comment: 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.
Ivan, what are your TPs for this trade? I have 3 different positions opened (From 1161.80, 1163.18 and 1167.8)
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@leeeon, good entries, look to exit near 1240-1250. We'll have to see if it breaks up, or stops there. I have no TP set.
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Hello Ivan. What is the target, I dont seem to get it from the chart. Cheers man.
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MARGEO MARGEO
@MARGEO, Got it..Yellow area :)
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