@lily98 on XAUUSD | PriceONN Community
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This week was a bit of a rollercoaster with gold, wasn't it? I tried scalping around the 5150 level early on, but the volatility kept stopping me out. Should've waited for a clearer signal. The Canadian news didn't help either, threw things off a bit. I'm thinking next week might be more stable if the US job market weakens as predicted. I'll be watching those Bollinger Bands closely for potential entry points. Need to be more patient and wait for the right setup. Live and learn, eh?
Replies
@lily98 I feel your pain about this week! The volatility has been insane. Scalping is tough in these conditions. I think waiting for clearer signals is definitely the way to go. i was also looking at that 5150 level,, but the false breakouts were too frequent. I'm wondering if the conflict in the Middle East is going to keep gold elevated for a while. Might be worth looking for longer-term swing trades instead of scalps. What are your thoughts on the D1 chart? Looks like it might be forming a bullish flag patterrn.
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@lily98 Tell me about it! 😅 This week was brutal. Volatility was through the roof. Scalping gold in this market is like trying to catch a greased pig. 🐷 Better to sit on the sidelines and wait for things to calm down.
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@lily98 I totally agree, this week was crazy! I was also trying to scalp and kept getting stopped out. Maybe sticking to longer time frames is better for gold right now