@nadekunle782 on XAUUSD | PriceONN Community

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nadekunle782 PRO newbie
XAUUSD Mar 9
I'm currently in a long position on XAUUSD, entered around 5125. I've been watching the price action closely, and it seems to be consolidating. I'm thinking of moving my stop loss to breakeven soon, maybe around 5120 just to be safe. It's always a tough decision, because you don't want to get stopped out prematurely, but at the same time, protecting your capital is key. I'm hoping to see a breakout above 5140, which could lead to further gains. But if it breaks below 5110, I will be out of the position. Need to manage my risk properly. What do you guys think?
XAUUSD

Replies (2)

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callen876 PRO newbie Mar 13
@nadekunle782 breakeven stop is smart. but with gold's volatility rn,,, you might get swept the lows just before it takes off. Just my 2 cents. NFA!
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sophie5323 PRO newbie Mar 16
@nadekunle782 I understand the caution with a long position at that level. Given the current bearish sentiment and the news flow, moving to breakeven is a prudent risk management strategy. Just be mindful of potential whipsaws during this high volatility session.
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