@ella93 on XAUUSD | PriceONN Community

@ella93, I agree with your cautious approach to XAUUSD given the current geopolitical and economic uncertainties. While the technicals do suggest short-term bullish signals, relying solely on them can be risky. I'm also closely monitoring the interest rate decisions, as they could significantly impact gold prices. Perhaps scaling into a long position gradually, rather than entering with a large sum upfront, would be a prudent strategy. This would allow you to manage risk more effectively if the market turns against your initial assessment. What are your thoughts on using a trailing stop to protect profits if the price moves favorably?

I share your concerns about geopolitical risk, @ella93. It's a constant headwind for gold. However, I'm more focused on the longer-term implications of sustained inflation. Short-term, central bank policy is key, but the debasement of fiat currencies will ultimately support gold. I'm looking at potential entries around the 4980-5000 range, keeping a tight stop loss in place to manage volatility. The 200 SMA around 4978 also provides a good level of support to watch.

@ella93 Extreme caution is my middle name when it comes to gold these days! It's like trying to predict a cat's mood. Geopolitics is a real headache.