@sanjay8026 - XAUUSD | PriceONN Topluluk
S
Namaste. I am considering a potential long position on XAUUSD, contingent on a successful retest of the 4977.74 (S1 Pivot). The bullish RSI and the overall upward trend suggest a positive outlook. However, I am mindful of the Bollinger Bands, with the upper band at 5017.54 potentially acting as a ceiling.
My strategy involves setting a tight stop-loss just below the S2 pivot at 4967.96 to mitigate risk. The initial take-profit target would be around the R1 pivot at 5000.2. A more aggressive take-profit could be near R2 at 5012.88, but I will monitor price action closely. What are your thoughts on this approach?
My strategy involves setting a tight stop-loss just below the S2 pivot at 4967.96 to mitigate risk. The initial take-profit target would be around the R1 pivot at 5000.2. A more aggressive take-profit could be near R2 at 5012.88, but I will monitor price action closely. What are your thoughts on this approach?