Good entry on riding the wave downward.
Reversal from fib 61.8 of the last wave downward, and reversal from fib 31.8 of the downward channel, and reversal from Kumo clouds.
Stop loss above previous high & above the Kumo cloud at $1330, and profit target at $1296 (fib 161.8%)
Risk to reward is quite small on this trade (almost 1:1), so I would trade it with small position/leverage.
Reversal from fib 61.8 of the last wave downward, and reversal from fib 31.8 of the downward channel, and reversal from Kumo clouds.
Stop loss above previous high & above the Kumo cloud at $1330, and profit target at $1296 (fib 161.8%)
Risk to reward is quite small on this trade (almost 1:1), so I would trade it with small position/leverage.
Idee correlate
XAUUSD Short
Wahid_Elgohary
about XAUUSD
Still targeting the $1296 before turning into bullish bias.