Don't let gold go more than 3-5 USD against you

FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov points out that gold has dropped below 1320 and to avoid testing of 1300 was impossible.

Key quotes

"We have a good support area above 1285 to 1295 so you may enter LONG here with SL not greater than 5 USD."

"Many people are asking me what to do when they lose 100 and more dollars on gold."

"The solution is simple - do not allow gold to go more than 3-5 USD against you."

"If it goes this means it will go even a lot more against you and you'd better exit, maybe do not trade gold till the next day."