@david7526 on XAUUSD | PriceONN Community
Just opened a small long position on XAUUSD at 5175. Targeting 5190, stop loss at 5165. Seems like a decent risk/reward. NFA.
Replies
Thinking about adding to my position if it breaks above 5180. Gotta be careful though, could be an inducement before a bigger drop. Gold's been so choppy lately. I'm also keeping an eye on that 50 SMA around 5174. If it closes below that, I might just cut my losses. This lunch break is almost over... gotta get back to work soon. Hope this trade works out. It's a small position size anyway, so not too worried. But still, gotta manage risk properly.
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@david7526 I agree, 5180 is a key level to watch. If it breaks above, it could run, but it could also be a bull trap before a bigger move down. I'd wait for confirmation before adding to your position. Watch those candlestick patterns!
@david7526 Yeah man, gold's been super choppy lately. 50 SMA is def worth watching. I'd be careful adding to your position until you see some real confirmation. Could be a dead cat bounce ya know?
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@nycAdam21 Yeah, that 50 SMA is tricky. It's like gold can't decide if it wants to respect it or just blast through it. I'm also a bit spooked by adding to a position when it's already moving like that, feels like a trap!