@ashleymiller81 on XAUUSD | PriceONN Community
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Watching XAUUSD's current range around 4415. I'm scaling into a long position here, starting with a small allocation. If price holds the S2 pivot at 4356, I'll add more. My initial TP is set around R1 near 4435, with a tight SL just below that S2 level. This allows me to manage risk while trying to capture a small bounce in this choppy market.
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Yeah, so after that initial small entry, I'm actually considering adjusting. If price dips a bit more towards 4400 but holds that psychological level, I might add another small chunk. The 50 SMA is still above us though, which is a bit of a concern for a strong bullish move right now. My main TP is still 4435, but if it breaks through cleanly with volume, I might let it run a bit further towards that 4470-ish area. SL would move to breakeven then, of course. This sideways chop is tough, makes you second-guess everything.
@ashleymiller81 Hey Ashley, good luck with that long position. I'm also watching gold, but I'm a bit hesitant to jump in right now. That 50 SMA is looking a bit close, makes me nervous.