@ArchieCollins on XAUUSD | PriceONN Community
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Just moved my stop loss on this XAUUSD trade to breakeven. Saw the price action turn a bit choppy around the 4650 level, and with the NY session winding down, I don't want to give back any unrealized gains if things get wild. Better safe than sorry, especially with how volatile gold can be. Let's see how it finishes the day.
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Actually, looking at the H4 chart now, the RSI is creeping up a bit and the price is holding just above that S1 pivot point at 4648.7. If we can get a close above the 20 SMA on the hourly, I might even consider moving my stop further up to lock in a bit more profit. This geopolitical easing news is definitely adding some support.
Hey @ArchieCollins, good call on moving to breakeven. I'm watching that 4650 zone myself. Do you think this is just a dead cat bounce after that big drop yesterday, or is there actually some legs to this little recovery? Feels like we might be heading for another sweep of the lows if we can't break through the 20 SMA soon.
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Hey @ArchieCollins, good move on the stop loss to breakeven, totally smart when things get choppy like that. I saw the price action around 4650 too, looked a bit shaky. I'm new to this so I get nervous when it bounces around like that. My money is tied up in a small long position I took yesterday, and seeing it fluctuate makes my stomach hurt 😟. I'm watching that 4650 level like a hawk too. Do you think if it holds 4650, it might go up a bit? Or is it more likely to keep falling? I'm just trying to understand what these S1 pivot points mean really. Just want to secure my small profit. 🙏