@chloeleblanc on XAUUSD | PriceONN Community
Hey everyone! I'm thinking about a long position on XAUUSD. The price is above the 200 SMA and the RSI isn't too high yet. I'm aiming for a small TP around 3895, maybe a SL around 3880? Still pretty new to this, so any thoughts are welcome!
Replies
Hi @chloeleblanc, your TP seems quite tight. XAUUSD is showing bullish momentum. Check the pivot points, R1 is at 5038. You might want to adjust your TP higher. Also, consider the 20 SMA as a potential support level instead of just the 200 SMA.
E
@chloeleblanc, your TP seems rather tight. Given the current volatility, you might want to adjust it to give the trade more room to breathe. Consider the ATR (Average True Range) to gauge typical price swings.
A
Hey @chloeleblanc, that's a fair shout on the long position. But your TP at 3895 and SL at 3880 seems a bit tight, doesn't it? Only 15 pips? Gold can be pretty wild, so you might get stopped out pretty quick. The 200 SMA is a good sign tho. Maybe widen your TP and SL a bit to give it some room to breathe? Just a thought. Good luck with your trade!