@jack1997 on XAUUSD | PriceONN Community

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jack1997 PRO newbie
XAUUSD Apr 6
Risk management is key, especially when the market is doing this weird dance between easing tensions and a weaker dollar. I'm not chasing price right now. My rule is to set a strict SL below the 50 SMA, which is currently around 4683. If we break that decisively, I'm out. No need to fight the tape if it turns against you, just manage the downside.
XAUUSD

Replies (1)

R
rkumar692 PRO newbie Apr 10
Hey @jack1997, I understand your approach with the 50 SMA as a critical level. It's always wise to have a defined exit strategy. Personally, I'm keeping a close eye on the S1 pivot at 4762.96. If we see a solid rejection from that area with increased volume, I might consider a short position. The H4 RSI is hovering around 51, which is pretty neutral, but that bearish divergence I saw earlier is still concerning. Breaking the 20 SMA at 4761.43 would be the first sign of weakness for me, so your 50 SMA level is a good longer-term confirmation point. Just need to be patient and let the market show its hand.
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