@jennifer2619 on XAUUSD | PriceONN Community
I'm mostly scalping XAUUSD these days, trying to catch quick moves. I usually enter on a break of a minor support or resistance, scale into my position if it moves in my favor, and then take partial profits at key levels like the hourly pivots. The rest I let run with a trailing stop to lock in gains if possible.
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So on that scaling strategy, I find that taking profits at the R1 pivot is usually a good idea. If it breaks R1, then I'll look to add more on a retest, that's where I look for a potential breaker block entry sometimes. But you gotta be careful, these moves can reverse fast. I got completely rekt trying to catch a falling knife near 4500 on Friday. Still stinging from that. I'm just hoping this current consolidation holds or gives me a clear direction soon, tired of choppy markets.