How Do You Use XAUUSD Trading Fib Retracement?
The Fibonacci retracement levels are explained below: traders should use this Fibonacci Retracement Levels indicator to determine where to open a trade whether a buy xauusd trade in a xauusd up trend and a sell xauusd trade in a downward trend.
How Do I Use Fibonacci Retracement Levels for Day Trading?
How Do I Use Fibonacci Retracement Levels for Day Trading?
How Do You Use Fibonacci Retracement Levels for Day Trading? - Fib Retracement Tool Described
How Do You Use Fibonacci Retracement Levels for Day Trading? - Fib Retracement Tool Described
How Do You Use XAUUSD Trading Fib Retracement?
In the technical analysis example illustrated & shown below gold trading price is moving up between chart point 1 and chart point 2 then after chart point 2 it retraces down to 50.0% retracement level then gold trading price continues moving up in the original upward trend. Note that this retracement technical indicator is plotted from point 1 to point 2 in the direction of the trend (Upward Direction).
Technical Analysis of How to Use Fibonacci Retracement in an Up Gold Trend
Technical Analysis of How to Use Fibonacci Retracement in an Up XAUUSD Trend
Once the gold trading price hit the 50.00% retracement level, this retracement level provided a lot of support for the gold price, and afterwards the xauusd market then resumed the original upward trend and continued to move upwards.
For this technical analysis example, the gold trading price retracement reached the 50.0% retracement level, but most of the time the xauusd market will retrace up to 38.2% retracement level and therefore most of the time xauusd traders set their buy limit pending orders at 38.2% Fibo retracement level, while at same time placing a stop just below 61.8% Fibo retracement level.
How Do You Use XAUUSD Trading Fib Retracement?
In the XAUUSD Retracement Strategy example shown below the xauusd market is moving down between chart point 1 & chart point 2, then after chart point 2 the gold trading price then retraces up to 38.2% retracement level then it continues moving downwards in the original downward trend. Note that this retracement technical indicator is plotted from point 1 to point 2 in the direction of the trend (Downward Direction).
Technical Analysis of How to Use Fibonacci Retracement in a Down Gold Trend
Technical Analysis of How to Use Fibonacci Retracement in a Down Gold Trend
The above technical analysis example is a xauusd retracement trading set up where the price retraces immediately after touching the 38.2% Fibonacci Retracement Level.
In this technical analysis example the retracement of gold trading price reached 38.20% retracement level and did not get to 50.00% retracement level. It is always good to use 38.2% retracement level because most times the gold trading price retracement does not always get to 50.0% retracement level.
This XAUUSD Retracement level provided a lot of resistance for the gold trading price retracement, this was the best place for a trader to place a sell limit order as the xauusd market quickly moved down after hitting this gold price retracement zone.
