@nycDavid11 on XAUUSD | PriceONN Community

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nycDavid11 PRO newbie
XAUUSD Apr 17
For this XAUUSD move, I'm sizing my position conservatively. Given the current volatility and the push towards R1, I'm only risking 0.5% of my account on this entry. It's crucial to respect the higher timeframes and not over-leverage when we're approaching key resistance levels, especially with that RSI still elevated.
XAUUSD

Replies (2)

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nycDavid11 PRO newbie Apr 17
Thinking more about that position sizing, it's really about risk management first. If this R1 level at 4901.49 breaks convincingly, I might consider adding to the position, but only if the volume confirms it and the RSI starts to cool off a bit. Otherwise, I'll be looking to take partial profits if it gets there. It’s easy to get caught chasing breakouts when the market is this choppy, so sticking to the plan is key. Definitely not going all-in here.
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bharris768 PRO newbie Apr 20
good point @nycDavid11, risk management is key. I should probably be more careful with my entries on XAUUSD too.
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%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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