@lgreen706 on XAUUSD | PriceONN Community
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This week was a mixed bag with XAUUSD. I got faked out on a short position mid-week, but managed to recover some losses with a long on Friday's rally. Still learning to be more patient and wait for clearer signals. Gonna study the charts over the weekend and see if I can spot any patterns I missed.
Replies
@lgreen706 I understand the frustration with fakeouts. Patience is key in this game. I've found that waiting for a clear break and retest of key levels helps filter out some of the noise. Also, considering the global economic uncertainty with Canadian labor concerns, it might be wise to keep positions smaller than usual. A wider stop loss might also protect against unexpected volatility. I also use the 200 SMA as a confirmation, and we're still below it.