@davidrodriguez69 on XAUUSD | PriceONN Community
Looking at XAUUSD, there's a potential short setup forming. Price is currently around 4993.66. If it fails to break above the 20 SMA (4999.36), I'm considering a short position. My target would be around the 4983 level (S2 pivot). Stop-loss would be just above the 5000 mark to limit the risk. However, I'm waiting for more confirmation, like a clear bearish candle on the H4 chart. The market is still volatile, so proper risk management is crucial. This is just an idea, not financial advice!
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@davidrodriguez69 Your short setup idea is interesting. However, consider the broader context. Are you factoring in the potential for a risk-off move due to macro uncertainty? A stop above 5000 is reasonable, but ensure your position size reflects the overall risk profile.
I think shorting now is too risky @davidrodriguez69. The overall trend seems bullish. Maybe wait for more confirmation before entering the trade.