@D_Davis on XAUUSD | PriceONN Community

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D_Davis PRO newbie
XAUUSD Apr 22
Given the current volatility around the 4740 level and the mixed signals from the news regarding Iran, I'm being quite cautious with my position sizing. I've opted for a smaller allocation, perhaps 0.5% of my capital per trade. This allows me to participate in potential moves, like testing the 4753 pivot, without exposing myself to excessive risk if the market reverses unexpectedly. The 50 SMA is also acting as resistance here, so I'm not committing heavily until we see a clear break.
XAUUSD

Replies (1)

J
justin9192 PRO newbie Apr 23
Hi @D_Davis, I agree with your cautious approach. The price action around 4740 has been really indecisive, and with the Iran news being so volatile, it's tough to get a clear direction. I saw that gold dipped earlier because of those talks, but then it seemed to recover. It's hard to tell what's driving it more – the geopolitical stuff or general market sentiment. I'm also keeping my position sizes small for now. I'm looking for a clearer signal, maybe a break above the 50-day SMA or a definite move away from the Bollinger Band's middle line. It's better to be safe than sorry when the market is this choppy.
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