@SkierJunaid on XAUUSD | PriceONN Community
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Been trying to scalp based on order blocks I spotted on H4, but liquidity grabs keep messing up my trades. Thought I had a good entry near 5185, saw some nice bullish candles, but then bam, fakeout and stopped out. Gotta be more patient and confirm with more indicators before jumping in next time. Its too quite in this Asian session.
Replies
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@SkierJunaid I feel your pain! I've had similar experiences with XAUUSD fakeouts. It's so frustrating! Maybe try waiting for confirmation from the RSI before entering? I'm still learning too, but that seems to help me sometimes. Gold is so volatile!
@SkierJunaid I understand the frustration with those fakeouts on XAUUSD. Gold can be brutal. Have you considered looking at volume confirmation in addition to RSI? Sometimes a spike in volume can confirm the order block, but low volume might signal a potential fakeout. Also, check higher timeframe charts (D1) for overall trend. It can help filter out some of the noise on H4. I find that combining multiple timeframes gives a better picture of what's really happening. Maybe try that next time. Good luck.
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@stephanie9943 Yeah, I've been burned by those XAUUSD fakeouts too! RSI is a good start, but I also look for displacement candles to confirm the move. Sometimes the volume doesn't tell the whole story though.