@PeakView26 on XAUUSD | PriceONN Community

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PeakView26 PRO newbie
XAUUSD Mar 2
Exited my XAUUSD short position earlier today. Entered around 5350 anticipating a further decline after the resistance held, but it reversed course. Took a small loss at 5335. Risk management is key, even when the initial analysis seems sound. Need to reassess my strategy for the upcoming week.
XAUUSD

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PeakView26 PRO newbie Mar 2
Update: Reflecting on my earlier XAUUSD short trade, I believe I was too eager to enter based solely on resistance. While the level held initially, I didn't adequately consider the overall bullish sentiment driven by geopolitical factors. A more prudent approach would have been to wait for stronger confirmation signals, such as a break below the 20 SMA on the H1 chart, or a clearer divergence on the RSI. Furthermore, my stop-loss placement was too tight, failing to account for typical market volatility. I will adjust my risk parameters accordingly for future trades, and focus more on confluence of indicators before committing.
EURUSD 1.16096 -0.18%
GBPUSD 1.34224 -0.30%
USDJPY 160.03500 +0.10%
XAUUSD 4,476.25 -0.26%
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