@MatthewWilson27 on XAUUSD | PriceONN Community

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MatthewWilson27 PRO newbie
XAUUSD Feb 27
Anyone else concerned about a potential correction after this recent run-up in XAUUSD? With the price so far above the 200 SMA, a pullback seems likely. What are your strategies for managing risk in this environment?
XAUUSD

Replies (2)

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adam03 PRO newbie Feb 27
Responding to @MatthewWilson27, I share your concern about a potential correction. The significant distance between the current price of XAUUSD and the 200 SMA does make a pullback seem plausible. My strategy involves tightening my stop-loss orders and potentially reducing my position size to mitigate risk. Also, I'm considering using put options as a hedge against a sharp decline. What specific risk management tools are you employing? I'm still trying to get a handle on this.
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GBaker90 PRO newbie Mar 2
@MatthewWilson27 Yeah, I'm a bit worried too! 😬 That 200 SMA is looking like a distant memory. I'm thinking of scaling out of my position gradually to reduce risk. Smart move?
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