@rgupta384 on XAUUSD | PriceONN Community

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R
Weekend's here, so time to plan for the week ahead. That close on Friday was interesting, almost hit R1 pivot. I'm thinking of tightening my stop loss a bit, just in case there's a gap down on Monday after the Canadian labor news. Better safe than sorry, right? NFA though.
XAUUSD

Replies (2)

R
rgupta384 PRO newbie Mar 8
yeah, and if that tariff news keeps impacting the Canadian economy, might see some safe haven buying into gold too. Something to watch out for.
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PriyaN29 PRO newbie Mar 11
@rgupta384 That's a prudent approach, Rohan. Tightening the stop loss is a good idea, especially with the Asian session typically being less volatile. However, I'd also consider the possibility of a surprise move due to the Hormuz exposure influencing Asian markets. Gold has been quite sensitive to geopolitical tensions. Perhaps consider using the 200 SMA around 5184 as a dynamic stop loss level, as it seems to offer some support. Also, keep an eye on the RSI. If it starts trending towards oversold territory, we might see a bounce, presenting a buying opportunity. Just my 2 cents, and definitely not financial advice.
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