@ashleyperez on XAUUSD | PriceONN Community
A
Okay, so for XAUUSD, I'm leaning towards a long position, but I'm being a bit patient here. We're right up against that R1 level around 5196-5200, and sometimes gold can get a bit choppy there before deciding its next move. My plan is to wait for a clear break and sustained close above 5200, maybe on a H4 candle, to confirm the momentum.
If that happens, I'd look for an entry around 5205ish, with a first TP target near the upper Bollinger band, so like 5215-5220. For the stop loss, I'd probably put it just below the pivot point, maybe 5188 or 5187, to protect against a false breakout. It feels like there's still room for this bullish trend to continue, especially with how it's holding above the SMAs, but confirmation is key for me. Gotta manage that risk!
If that happens, I'd look for an entry around 5205ish, with a first TP target near the upper Bollinger band, so like 5215-5220. For the stop loss, I'd probably put it just below the pivot point, maybe 5188 or 5187, to protect against a false breakout. It feels like there's still room for this bullish trend to continue, especially with how it's holding above the SMAs, but confirmation is key for me. Gotta manage that risk!