@blackhawk192 on XAUUSD | PriceONN Community
Right, I've decided to go long on XAUUSD at 4548. My target is around 4570, and I'll set a stop loss just below the recent low, say 4530. Feeling cautiously optimistic about this move, hoping to catch a bit of upward momentum before the day is out.
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And if it does break down, well, it's just another lesson learned. No harm done if it’s a controlled loss.
Actually, thinking more about it, the news about that Iran deal potentially stalling is a bit concerning for gold. It's not a direct driver, but it can shift sentiment. I'm hoping the Federal Reserve statement was interpreted as dovish enough to keep some support under the precious metals, otherwise, this 4530 support might not hold. If we break that, I might have to rethink my TP and perhaps even cut my losses sooner than planned if it starts crumbling past 4520.