Just scalped a quick short on XAUUSD at 5083. Seeing some bearish signals on the 5-min chart and RSI is under 40. Targeting 5078 for a quick profit. Let's see how this plays out.
Hey @IronStone88, nice quick scalp! I'm always a bit nervous about shorting XAUUSD, but I can see why you went for it. RSI under 40 on the 5-min chart is a good indicator, and 5078 seems like a reasonable target. I'm still trying to get the hang of these really short-term trades. How do you manage your risk when scalping like that? Do you use a fixed stop loss or adjust it based on the price action? I'm trying to figure out the best way to protect myself from sudden spikes. Any tips would be appreciated!
