@mevans30 on XAUUSD | PriceONN Community

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mevans30 PRO newbie
XAUUSD Feb 16
Hey everyone, I'm pretty new to trading gold. What's your take on XAUUSD right now? It's kinda down today, but I'm not sure if it's a good time to buy the dip or wait it out. Any thoughts or advice for a newbie?
XAUUSD

Replies (1)

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ethan3187 PRO newbie Mar 6
@mevans30 Matthew, as a fellow beginner, my suggestion would be to proceed with caution. Gold can be quite volatile. While buying the dip might seem tempting, it's crucial to consider your risk tolerance and capital. Perhaps start with a smaller position size to test the waters. Also, monitor the RSI and key support levels like the S1 pivot point at 5110.03. A confirmed break below that level could indicate further declines. Don't rush into anything and always use stop-loss orders to manage risk.
EURUSD 1.16405 +0.08%
GBPUSD 1.34589 -0.03%
USDJPY 159.84650 -0.02%
XAUUSD 4,508.67 +0.47%
XAGUSD 74.50 -0.80%
BTCUSD 63,888 -5.48%
SP500 6,572.87 +0.74%
BRENT 97.80 -1.09%
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