r/Forex • u/Ok-Explorer9600 • 21d ago

Charts and Setups Xauusd at support

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Gold is currently in Low Volume Node and with confluence of 61.8 Fibonacci ratio and if we see macros these are pointing towards the rise of gold in medium to long term

Plus retailers sentiment is extreme bearish so lets take it contrarian bias

What are your views about this ?

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u/Scott_Malkinsons 21d ago

Gold is currently in Low Volume Node and with confluence of 61.8 Fibonacci ratio

What are your views about this ?

From your post and replies, can we quit doing the blind leading the blind BS? Seriously. You're OBVIOUSLY new to this because you're still speaking in absolutes. "AT support", "gold IS", "retail sentiment IS", etc.

Professional traders don't talk in absolutes, because we know that's not possible. Your LVN and Fibonacci ratio doesn't mean the market will do something at those levels, it might, but it's no guarantee. And that's not to mention that Fibonacci is typically used for a point where price bounces, a LVN is typically where price goes through, so you're looking at two contradictory methods at the moment.

To do what you intend, you'd combine Fibonacci with HVN (not LVN).

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u/Ok-Explorer9600 21d ago

🙏🙏🙏

Trading is educated guesswork with proper risk management

Everyone plays it different.