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Currently holding a long position on XAUUSD, entered near 5290. Watching the 5300 level closely; it's proving to be a tough resistance. Considering tightening my stop-loss just below 5280 to protect profits if it retraces. This consolidation is making me a bit nervous tbh.
@CalmBear8, I understand your concern about the consolidation around 5300. It's wise to consider tightening your stop-loss. Given the current RSI around 52.6, it seems we're neither overbought nor oversold, suggesting the price could move in either direction. However, with the EU session now open, we might see increased volatility that could push through that resistance. Have you considered looking at the H4 chart for clearer signals, or perhaps adjusting your position size to manage risk during this uncertain period?
