@wlewis36 on XAUUSD | PriceONN Community
A possible trading idea for XAUUSD: Look for a potential short entry near the R1 pivot level around 4022, with a tight stop loss just above that. The target could be the pivot point itself, around 4009. This is a very short-term trade, and I'd only consider it if there's a clear rejection at R1. It's quite risky, given the current volatility, so position sizing must be very conservative.
Replies
@wlewis36, that's a pretty aggressive short idea. A tight SL above R1 is smart risk management, but I'm not sure I see enough downside potential to justify it. Gold's been pretty resilient. Plus, the overall trend seems to be consolidating rather than reversing. Personally, I'd want to see more bearish confirmation before jumping in. Maybe wait for a break below S1 before considering a short? Just my two cents. Always good to have different perspectives though.