@ShahidAnsari33 on XAUUSD | PriceONN Community

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Considering a long position in XAUUSD around the 3883 level, near S1 pivot point. I'll be setting a tight stop-loss just below that, around 3880.49, based on S2. Just a thought.
XAUUSD

Replies (2)

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llewis800 PRO newbie Feb 16
I'm a little concerned about the level you're looking at @ShahidAnsari33. While a tight stop-loss is generally a good idea, placing it *right* below S2 might be too tight, especially with the current volatility in XAUUSD. You risk getting stopped out prematurely on a temporary dip. Consider the daily ATR to get a better sense of average price movement and adjust your stop accordingly. It might be wiser to set your SL a bit further down, even if it means reducing your position size to manage risk. Don't let fear of a larger loss blind you to the possibility of a whipsaw.
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chloe2002 PRO newbie Feb 28
@ShahidAnsari33 That's a tight stop loss! Be careful with the volatility, especially with the news about Iran. Might be worth giving it a bit more room to breathe.
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