@LucasCyclist on XAUUSD | PriceONN Community

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LucasCyclist PRO newbie
XAUUSD Apr 23
Alright, I'm seeing a bit of a bounce off that S2 pivot around 4684. The dollar is holding steady but not strengthening much after the Strait of Hormuz news. I'm going to risk a small long position here, targeting just above the daily pivot at 4715. SL will be tight, maybe 4680.
XAUUSD

Replies (1)

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IGagne75 PRO newbie Apr 28
Hey @LucasCyclist, interesting you're looking for a long off that S2 pivot. I saw it bounce too but honestly, with all this inflation talk from the oil surge and the Iran situation looking unstable, I'm still pretty bearish on gold right now. The news about potential deal faltering is worrying, and usually that pushes gold up, but we're just sinking. I actually just added to my short position around 4595. My SL is way up at 4650, but I'm thinking we might see a real drop towards 4500 if this bearish momentum continues. Maybe your small long is smart for a scalp, but I wouldn't want to hold it overnight with this kind of uncertainty. Good luck though!
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