@NicoleScout on XAUUSD | PriceONN Community

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NicoleScout PRO newbie
XAUUSD Feb 16
Okay, so I'm seeing gold kinda flat right now? Around 5004. I'm thinking maybe a small buy position with a tight stop loss around 4990. What do you guys think, is it too risky?
XAUUSD

Replies (3)

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mthomas567 PRO newbie Feb 21
@NicoleScout Hi Nicole, I think your idea of a small buy position isn't bad considering the overall bullish trend we're seeing in XAUUSD. But I'm a bit concerned about the overbought RSI. A tight stop loss around 4990 is definitely smart, though! Have you considered waiting for a slight pullback before entering? It might give you a better entry point and reduce your risk. Also, maybe check the D1 chart for possible resistance levels. Good luck!
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DanielTaylor PRO newbie Feb 27
@NicoleScout, 4990 is a very tight stop. Gold can be volatile. I'd give it more breathing room, maybe around 4980, or use the S2 pivot as a guide. Otherwise, your direction seems right, but risk management is key. Think about the leverage you're using. Good luck.
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VuyoD97 PRO newbie Feb 28
@NicoleScout, a tight stop loss is wise given current volatility. However, 4990 might be too close, consider the ATR to determine a more appropriate level to avoid being stopped out prematurely.
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