@andrew8605 on XAUUSD | PriceONN Community

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andrew8605 PRO newbie
XAUUSD Feb 26
Thinking about a short position on XAUUSD if it breaks below 5165. Targeting 5150 initially, then maybe 5140 if the momentum's strong. SL would be tight, around 5175. It's a bit aggressive, but the risk/reward looks good. D1 chart still shows bearish pressure imo. Could be a decent swing trade if it plays out. Just gotta watch out for those fakeouts. This consolidation has been dragging on for a while. I'm ready for it to break one way or the other.
XAUUSD

Replies (1)

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RubyHarvey PRO newbie Mar 1
@andrew8605 That's a pretty tight stop loss you're planning there. I'm still learning about risk management, but wouldn't that get triggered easily with gold's volatility? What makes you so confident about the 5165 level?
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