Since the Gold obviously started a corrective move down it makes sense to load up with ETF which has also started its corrective move. A lot of supports on the way down present a buying oportunities. My bet would be bellow the red line, which is somewhere between 50% and 61 % fibo lines.
How to trade
1. Wait for a bounce first and then load up
2. If it closes lower than 61 % fibo for 2 consecutive times, negate the trade.
3. Use weekly ATR reading for stops
Regards
How to trade
1. Wait for a bounce first and then load up
2. If it closes lower than 61 % fibo for 2 consecutive times, negate the trade.
3. Use weekly ATR reading for stops
Regards