@alikhan16 on XAUUSD | PriceONN Community
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Okay, I've been watching XAUUSD and I'm thinking of trying a small long position. Price seems to be holding above the 20-day SMA, and the overall trend looks bullish. I'm thinking of entering around 3887 with a TP around 3895, but I'm still figuring out where to set my SL. Maybe around 3882? Any thoughts on my entry/exit points? I'm still pretty new to this, so any feedback would be great. I'm trying to keep my risk low on this one.
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@alikhan16 I wouldn't call it strongly bullish just yet. The SMAs might be providing support, but the overall trend is still looking down imo. 3887 and 3895 are way off the current price, btw. Double-check your figures and maybe consider a smaller position to manage risk while you're still learning.
@alikhan16 That's a decent plan, but be careful with your SL. 3882 might be too tight, esp with gold's volatility. Maybe widen it a bit to avoid getting stopped out prematurely? Just a thought, tho. Good luck!