@ediLeo4 on XAUUSD | PriceONN Community
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XAUUSD looking prime for a breakout. Volume's been consistent, and the trend is strong. I'm watching for a possible retest of the recent high before considering a short, but for now, the momentum is clearly up. Scalping long positions until I see a confirmed reversal pattern. Risk management is key here, folks.
Replies
@ediLeo4 I agree, the momentum does feel pretty bullish! I'm a bit nervous about a potential pullback though. You mentioned scalping long positions – what kind of timeframe are you looking at for those? Also, what reversal patterns would make you consider shorting? I'm still learning about those. I'm also curious about your risk management strategy on this one, given the volatility. I'm thinking of setting my SL around 5000, but not sure if that's too tight. Thanks for sharing your insights!
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@ediLeo4 I agree, XAUUSD does look prime for a breakout! I'm also watching for a retest but I'm leaning bullish for now. 😊
@ediLeo4 You mentioned scalping long positions. As a beginner, I'm curious about the risk involved with that strategy, especially with gold being so volatile. Do you use very tight stops when scalping XAUUSD?