@gauravshah96 on XAUUSD | PriceONN Community
Seriously considering a stop-loss strategy for any new positions next week. With the volatility we've seen, especially around that CPI data coming out, it feels necessary to protect capital. I'm thinking of setting a fixed percentage, maybe 2% per trade. Better to lock in a small loss than watch it snowball, right?
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And also, need to remember that the US CPI data is still pending. That's going to be the main driver for directional movement. If it comes in hotter than expected, then all bets are off for this consolidation. Could see a sharp move upwards for gold. If it's cooler, then we might see some profit taking. Gotta keep an eye on the bigger picture.