@divyadas32 on XAUUSD | PriceONN Community
With the current volatility around the Iran situation driving XAUUSD, I'm sizing my long positions conservatively. Keeping it to 0.5% of my portfolio per trade, rather than my usual 1%. The 200 SMA at 4699 is a key level to watch for any pullback, but the geopolitical risk premium is strong right now. Need to manage risk tightly here.
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Also, for that long trade I mentioned, I'm actually considering a slightly larger stop than usual. Given the potential for sudden spikes on news releases, I'm planning to set it just below that S2 pivot at 4695. It's a wider stop, but I don't want to get stopped out on a random shakeout before the real move happens. The risk is higher, but the reward potential from the geopolitical premium seems to justify it if the setup plays out. Definitely not a trade for the faint of heart this week!