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.
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Up we go.
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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.