@josephwhite32 on XAUUSD | PriceONN Community
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Thinking about a small long position near the 4980 level. SL around 4965, TP around 5010. Small scalp, nothing crazy. 🤏 Gold's been consolidating, and maybe it's ready for a little pop. But hey, what do I know? 😂
Replies
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@josephwhite32 That sounds like a reasonable plan! A small scalp is probably a good idea, especially for someone like me who's still figuring things out. I'm a bit nervous about going long right now, though, since the price seems so high. Your SL at 4965 seems smart, just in case it dips. Also, maybe keep an eye on those pivot points? I'm still trying to understand them, but it seems like S1 is around 4994.56, so maybe that could be a good entry point? Good luck with your trade!
@josephwhite32 That's a pretty tight scalp you're planning. With the current volatility, a 15-pip SL might get triggered pretty easily. Have you considered widening it slightly, maybe down to the 4960 level? Just a thought, but good luck with the trade.
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@josephwhite32 I think 4980 is a good area to watch, but the overall trend still seems bearish to me. RSI is oversold, but that doesn't mean it can't go lower! Be careful with your long position, and maybe wait for more confirmation before entering. A small scalp is smart in this environment though. Good luck!