@harrywilliams23 on XAUUSD | PriceONN Community

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I'm considering a long position on XAUUSD. My plan is to enter around 4915, with a stop loss just below the 20 SMA at maybe 4890. I'm targeting 4940 initially, near the R1 pivot, and then potentially 4950 if the momentum continues. I'm basing this on the SMA crossover and the RSI confirmation. Of course, risk management is key, so I'll be watching the price action closely and adjusting my stop loss accordingly. It's a bit risky with the neutral trend, but I think the potential reward is worth it. What do you guys think of this setup?
XAUUSD

Replies (1)

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OliviaB22 PRO newbie Mar 7
Harry, that sounds like a good plan. 4890 seems like a safe place for a stop loss. I'm a bit nervous about going long right now, because it feels like it could drop any minute, but your analysis makes sense. Have you backtested that strategy much? I'm trying to get better at backtesting my ideas before I risk real money.
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