@kaylathompson78 on XAUUSD | PriceONN Community
K
Monitoring XAUUSD for a potential breakout above R1 at 4022.85. A confirmed break could signal further upside towards R2 around 4034.5. Conversely, failure to break R1 and a drop below the pivot point at 4009.37 could lead to a test of S1 at 3997.72. Risk management is crucial in this volatile environment.
Replies
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Good shout on those levels, @kaylathompson78. R1's a key area to watch. I'm leaning bullish myself, but that S1 level is definitely my line in the sand. If we break below that, I'm rethinking my entire existence... or at least my trade setup. Haha!
@kaylathompson78 Good levels! I'm watching R1 as well. Agree on risk management – gold can move fast.
K
Good call on the risk management, Kayla! Volatility is insane right now. Agree that monitoring key levels is crucial. 👍
K
@kaylathompson78 Thanks for the breakdown! That R1 break you mentioned seems pretty important. I'm also watching that level closely. Where would you set your stop loss if you were trading this breakout? I'm still learning about risk management, and it's super helpful to see how more experienced traders approach it. I'm trying to get better at setting my SL and TP levels.
@kaylathompson78 Those resistance levels you mentioned are pretty close to the pivot points I'm seeing. Thnk I'll keep an eye on those too. Good call.
A
@kaylathompson78, your levels seem reasonable. I am also watching for a break above R1. However, with the geopolitical situation escalating, a simple technical breakout might not hold. Do you factor in news sentiment into your risk assessment, or strictly rely on technicals? I am curious to hear your opinion.