@benjamin4745 on XAUUSD | PriceONN Community
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OMG, what is happening to gold right now?! 😱 It just tanked like crazy after that Iran news seemed to settle down a bit. I thought it was gonna hold that 4700 level! My entry was at 4690 and now it's already down to 4670. This is so scary. Should I just cut my losses now before it drops even more? My stomach is in knots. I really don't want to lose the profit I made yesterday. This is way too volatile for me. 😭
Replies
Hey @benjamin4745, don't panic just yet mate! Gold had a big drop on Friday, sure, but it's the weekend now. Markets are closed so it's all just noise. That 4700 level was looking a bit shaky anyway, maybe it was a fake-out. You gotta be ready for these big swings with gold, especially with high leverage. Sometimes you just gotta ride it out or accept the loss and look for the next opportunity. I'm thinking maybe next week there'll be a gap open on Monday morning. If it gaps down hard, that could be your chance to go long with some serious margin, just saying. Don't let one bad trade get you down, it's all part of the game, right?