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Updated Fibonacci short-term short position take-profit at 59. You can hold toward the extension level, but need to reduce your position. The extension level is also where those willing to stop out will battle for a strong rebound. This kind of level generally rebounds once hit; if there is no reaction, it means it will break through immediately, so operate without hesitation. Unemployment claims are due today; watch out for extreme market conditions. $XAUUSD

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XAUUSDXAUUSD-0.37%


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L2Rover
2 hours ago
The Fibonacci 59 take-profit level has been reached. Reduce the position and keep a core position to target the extension level—this is indeed the safer approach. Jobless claims could easily cause a wick tonight. Risk control comes first.
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LeverageHunter
2 hours ago
At this level, XAUUSD will either bounce on contact or break through if it fails to rebound—the logic is clear. With the jobless claims data due tonight, it is advisable to stay on the sidelines and not fight the market.
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FastLiquidator
4 hours ago
Taking profit and reducing your position at 59 is perfectly fine; at the extension level, you really need to be willing to cut losses. Unemployment claims tonight + Friday—watch out for a double wipeout of longs and shorts.
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PineappleIsATradingExpert.
4 hours ago
First Review
Received 🫡
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