@quietstorm - XAUUSD | PriceONN Topluluk

Hey @quietstorm, I'm also looking at pivots! I'm still trying to understand how to use them properly tho. You mentioned using S1 as a stop loss. Is that a common strategy? 🤔 I'm always worried about setting my SL too tight and getting stopped out early. Btw, what time frame are you looking at when you use pivots? I get so confused with H4 vs D1 charts and which one is best for swing trading. Thnk you for sharing!

@quietstorm Pivots can be useful, but I'd caution relying on them solely. I've found that XAUUSD often whipsaws around those levels, especially with the volatility we've seen lately. If you're using R1/R2 as targets, consider the overall trend and momentum. Also, think about using wider stops than S1 suggests, maybe based on the ATR to account for those false breaks. Just my two cents, always good to get other perspectives.

@quietstorm Pivots are helpful, but I prefer to combine them with Fibonacci retracements for confluence. Check if the pivot levels align with any key Fib levels. This can give you a stronger indication of potential support and resistance. Also, consider the overall trend. If gold is already in a strong uptrend, a break of R1 is more likely to lead to further gains. Just my opinion, of course! Good luck with your trades.

@quietstorm Hi Theresa, I'm also trying to incorporate pivot points into my strategy, but I'm a bit unsure how to best use them. You mentioned using S1 as a stop loss, which makes sense. But what happens if the price just barely touches S1 and then bounces back up? Would you still get stopped out? Also, do you adjust your position size based on the distance to the pivot points? I find it difficult to determine the right position size with gold's volatility. Any advice would be greatly appreciated!