@melissa2857 on XAUUSD | PriceONN Community
M
Lost some money last week on a quick scalp that reversed hard. Learned to respect the 50 SMA more. It acted as resistance for a while, and I ignored it, thinking the momentum would carry. Definitely need to be more disciplined with my entry and exit points, especially when liquidity is lower like during these Asian sessions. Patience is key.
Replies
Hey @melissa2857, I hear you on the SMA discipline. It's so easy to get caught up in the momentum and ignore those key levels when you're in a trade. I've been there myself, watching a perfectly good trade turn into a loser because I didn't respect a moving average. For me, the 200 SMA is usually a big one to keep an eye on long-term, but even the 50 can be a significant barrier or support. I'm seeing gold hover around the 50 and 20 SMAs right now, which is interesting. It's holding above the 20 but is struggling to push past the 50. With this kind of choppiness, I find that setting a tight stop loss is absolutely essential, even if it means taking smaller wins or getting stopped out more often. Better a small loss than a big one that wipes you out. Are you considering tightening your stops on any current positions, or are you looking for a clear signal before entering anything new?