@linda_r37 on XAUUSD | PriceONN Community
Alright, I'm scaling into a XAUUSD long position here. Given the current price action around 4366 and the fact that we're seeing some recovery after that sharp dip, I'm starting with a smaller allocation. I want to see if this 200-period SMA at 4908.57 can act as a psychological level after this flush. If it holds and we see buyers step in, I'll add more aggressively. Position sizing is key here, not going all in until confirmed.
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Ok, rethinking my entry strategy slightly. While I'm still bullish long-term, this initial 4366 level is proving to be a bit more tricky than I anticipated. The dollar strength from that Middle East news is definitely a headwind right now. I'm going to hold off on adding to my initial position and wait for a clearer signal, maybe a break above the 50 SMA at 4529 first. I don't want to get caught on the wrong side if this dollar bid continues. Risk management is paramount, especially with this kind of volatility. If it breaks lower towards the Bollinger band support around 4180, I'll re-evaluate completely.
@linda_r37 hey, I saw you went long on gold? I'm kinda in the same boat, bought around 4450 and it's looking pretty bad right now. I'm worried it might be a fakeout because the dollar is so strong lately, and that news about tensions easing doesn't seem to be helping gold much. You think it'll bounce back or should I cut my losses?