Where Should I Place a StopLoss XAUUSD Order using Fibonacci Retracement Indicator?

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

Fib Retracement Zones Technical Indicator

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

Fibonacci Retracement level 61.8 % is the most commonly used level for setting stoplosses. A stoploss order should be set just below 61.8 % fibonacci retracement level

The 61.80% retracement level is used to set these orders since its rarely hit.

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