@kaylathompson78 on XAUUSD | PriceONN Community

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K
I'm trying a bit of a scaling-in strategy on this current XAUUSD push. If it breaks above the R1 pivot at 4706, I'll add a small position there. Then, if it can hold above that and starts moving towards R2, I'll scale in further. My initial SL is already set below the 20 SMA, so if it reverses hard, I'm only exposed to a small loss on the first entry. It's risky, but hedging this potential rise feels necessary right now.
XAUUSD

Replies (2)

J
JustinWright PRO newbie Apr 2
Hey @kaylathompson78, your scaling-in plan sounds decent if you're patient. But honestly, who has time for all that? I saw the break below the 20 SMA and just slammed a 50x short at 4655. My SL is probably too wide, like 4680, but who cares, it's all or nothing tonight. What do you guys think about this level though? We're hovering just above that S2 pivot at 4634. Is this the bounce zone, or is it going to get blown through like toilet paper? I'm watching the Bollinger Bands too, they're pretty wide open on the downside. Feels like it wants to test that lower band. Let me know your thoughts if you're watching this crazy action.
T
tmartin347 PRO newbie Apr 3
@JustinWright slamming a short at 4655 sounds super risky! The price is pretty choppy around the 20 SMA and that R1 pivot. I'm just watching from the sidelines for now, not sure if it's a good time to enter any positions. What if it bounces back hard?
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
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