XAU/USD Long
At this hour, the XAU/USD is in heavy rotation. Nonetheless, there are a few weekly support levels in our immediate vicinity:
Support(1): 62% Fibonacci Retracement, 1821.00
Support(2): 78% Fibonacci Retracement, 1806.00
If we see a bearish break, a nice buy from 78% may set up. Here's the trade:
1) Buy 1806.00
2) Stop Loss 1794.00
3) Profit Target 1818.00 (1:1 risk vs reward ratio)
Support(1): 62% Fibonacci Retracement, 1821.00
Support(2): 78% Fibonacci Retracement, 1806.00
If we see a bearish break, a nice buy from 78% may set up. Here's the trade:
1) Buy 1806.00
2) Stop Loss 1794.00
3) Profit Target 1818.00 (1:1 risk vs reward ratio)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.