Where Should I Place a Stop Loss Gold Order using Fibonacci Retracement Indicator?

Determining Where Should You Place a Stop Loss XAUUSD Order using Fib Retracement Technical Indicator?

Fibonacci Retracement Levels Indicator

Fibonacci retracement levels provide areas of support and resistance, these areas can be used to set stop loss levels.

Fibonacci Retracement level 61.8 % is the most commonly used level for setting stop losses. A stop loss order should be set just below 61.8 % fib retracement level

The 61.8 % retracement level is used to set these orders since its rarely hit.

Where Should I Place a Stop Loss Gold Order using Fibonacci Retracement Indicator? - Fibonacci Indicator Stop Loss Gold Order Setting at 61.8 % Retracement Level