@nzulu721 on XAUUSD | PriceONN Community
Just initiated a long position on XAUUSD at 4412.50. Targeting the R1 pivot at 4416.83 initially, with a stop-loss set just below the 50 SMA at 4415.00. The recent dip seems to have found support, and I'm anticipating a short-term reversal given the current market dynamics.
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Also moving my stop to breakeven at 4412.50. No need to give back any potential gains if this move falters.
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Whoa @nzulu721, congrats on the long at 4412.50! That's brave timing with the RSI hitting oversold. I saw that Americas Gold & Silver plunge too, and honestly, it made me super nervous about gold. Is it really finding support or is it just taking a breather before another dive? I'm hesitant to jump in right now because of that news. My gut feeling is that there might be more downside coming, even if it seems like a good entry point. Be careful with that stop loss, man. Hope you catch that R1 target though! 🤞 Let me know how it plays out!