@olufemi7663 on XAUUSD | PriceONN Community

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olufemi7663 PRO newbie
XAUUSD Apr 14
Watching this XAUUSD trade closely now. I'm long from around 4750, and the price is currently testing 4809. It's moving up, which is good, but I'm really nervous about this level. I've set my stop loss just below 4770, which feels like a huge risk if it turns around. I keep looking at the chart, expecting it to reverse any second. This whole geopolitical tension is making me jumpy. If it breaks 4810 cleanly, I might consider moving my stop up, but honestly, I'm just hoping it keeps going up and hits my TP. Don't want to get stopped out for a small gain or worse, a big loss.
XAUUSD

Replies (1)

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AbigailGreen61 PRO newbie Apr 19
Hey @olufemi7663, I see your concern about that level. 4809 is a spot where price has struggled before, and setting a stop below 4770 does expose you to some risk if the market decides to sweep those longs. Given the choppy action we saw last week, it's not surprising you're feeling anxious. However, with the news from Iran about the Strait of Hormuz reopening, there's definitely upward pressure building. This could push gold higher on Monday, potentially breaking through 4850 and heading towards that 4900 level mentioned in the news. Personally, I'd be looking for confirmation above 4830-4840 at the open. If it holds, your stop might be a bit too wide, but if it breaks 4770 decisively, that would signal a trend reversal anyway. Keep an eye on the initial hour Monday, that's usually telling.
EURUSD 1.16205 +0.07%
GBPUSD 1.35360 +0.16%
USDJPY 154.50350 -1.11%
XAUUSD 4,405.84 -0.56%
XAGUSD 65.75 -0.63%
BTCUSD 79,331 -0.71%
SP500 6,572.87 +0.74%
BRENT 94.88 +0.66%
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