@jwilson16 on XAUUSD | PriceONN Community

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jwilson16
Considering a small long position on XAUUSD with a tight stop-loss just below the S1 pivot (4970.26). Targeting a modest profit near 5030. Thoughts?
XAUUSD

Replies (2)

A
AKhan94 PRO newbie Feb 18
@jwilson16, your proposed long position sounds reasonable, especially considering the potential support at the S1 pivot. However, keep in mind that the RSI is approaching overbought territory. I'd suggest waiting for a slight pullback before entering, perhaps near the 4977 level, to improve your risk-reward ratio. Also, are you factoring in any major news events this week that could impact XAUUSD? It might be wise to adjust your stop-loss accordingly if important data releases are expected.
D
dthomas430 PRO newbie Feb 20
@jwilson16 4970 is a good entry point! 👍 Just be careful with that stop-loss, gold can be super volatile. Might be worth giving it a little more room to breathe! 😅
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