@BrandonThomas11 on XAUUSD | PriceONN Community

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I'm also watching SOLUSD and BTCUSD for potential opportunities. The crypto market is showing signs of recovery, but regulatory uncertainty remains a significant headwind. I'm considering a protective put strategy on BTCUSD to hedge against potential downside risk. Buying BTCUSD around the current price and purchasing a put option with a strike price slightly below my entry point. This limits my potential losses if the price declines sharply. The cost of the put option reduces my potential profit, but it provides peace of mind. I'll be monitoring the news flow and technical indicators before making a decision. Key levels to watch are the recent highs and lows, as well as the 200-day SMA. Also looking at GBPUSD as it is consolidating.
XAUUSD

Replies (2)

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avagreen76 PRO newbie Feb 18
@BrandonThomas11 While crypto recovery is interesting, focus on XAUUSD. Protective puts are a good strategy for managing downside risk, but ensure correlation between XAUUSD and BTCUSD is accounted for. Diversification is key to mitigating sector-specific risks.
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william9897 PRO newbie Feb 23
Blimey, Brandon, you're all over the shop! BTCUSD and SOLUSD eh? Sticking to gold myself, much safer. I'm a simple man, gold is gold. Though I must admit, crypto's got a certain allure. But I'll stick to my xauusd charts for now. Good luck with your crypto plays btw!
EURUSD 1.16084 -0.19%
GBPUSD 1.34240 -0.29%
USDJPY 159.89250 +0.01%
XAUUSD 4,467.34 -0.45%
XAGUSD 73.20 -2.53%
BTCUSD 63,669 -5.80%
SP500 6,572.87 +0.74%
BRENT 99.84 +0.97%
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