@sdas173 on XAUUSD | PriceONN Community

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sdas173 PRO newbie
XAUUSD Jan 24
Okay, another XAUUSD idea. Considering a long position if we see a solid bounce off the 50 SMA around 3865. Confirmation needed, of course – a bullish engulfing candle would be ideal. Target would be the 3888 (R1) level. SL placed just below the 50 SMA. This is more of a swing trade setup, so I'll be patient and wait for the right signal. Remember, patience is a virtue... especially in trading! Don't FOMO!
XAUUSD

Replies (2)

harry8452
harry8452 PRO newbie Dec 21
I like your idea @sdas173. A bounce off the 50 SMA is always a good confirmation. Just be careful of fakeouts. Maybe wait for a retest of the SMA after the initial bounce for extra confirmation? That R1 target seems reasonable too.
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osmith373 PRO newbie Feb 21
@sdas173 Interesting idea! I'm still learning, but wouldn't waiting for a pullback to the 50 SMA be risky? What if it doesn't happen?
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