@karthikmenon93 on XAUUSD | PriceONN Community
K
XAUUSD showing bullish momentum, but RSI is approaching overbought territory. I'm considering a short-term pullback trade if we see a break below the 3883 pivot level. Stop loss would be crucial, placed tightly above the recent high. Risk management is paramount.
Replies
@karthikmenon93, I'm intrigued by your comment about a potential pullback. As a beginner, I'm always a bit nervous about shorting, especially when something has been trending up. You mentioned the 3883 pivot level. Is that a reliable indicator, in your experience? And when you say 'tight' stop loss, how tight are we talking? I'm trying to get a better handle on risk management, and any advice would be greatly appreciated. It's all so much to learn!