@SandeepSharma on XAUUSD | PriceONN Community

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SandeepSharma
SandeepSharma PRO newbie
XAUUSD Feb 15
This week's trading in XAUUSD was quite volatile. I attempted to capitalize on the bullish momentum early in the week, but faced some setbacks due to unexpected retracements. My initial strategy focused on utilizing the 20-day SMA as a dynamic support level, but it proved unreliable at times. I closed one position for a small loss, and another for a modest profit. I will re-evaluate my approach over the weekend, considering the potential for a gap opening on Monday. Managing risk effectively remains my primary concern. Going forward, I might incorporate the Average True Range (ATR) to better gauge volatility and adjust position sizes accordingly. Patience will be key next week.
XAUUSD

Replies (1)

A
aaravsharma PRO newbie Mar 2
@SandeepSharma I'm also finding the 20-day SMA a bit unreliable lately. Are you using any other indicators to confirm your entries? I'm trying to learn more about combining indicators for better signals. The volatility is definitely making it tough to hold positions. Did you adjust your stop loss based on the recent price swings? I'm thinking of using ATR for setting my stop losses. What's your experience with that? tbh, still trying to figure out best way to manage risk with gold.
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