Nice little pump overnight on gold. Broke through that 4728 pivot, looking like R1 at 4741 might be next if this momentum holds. RSI is still climbing, but getting close to overbought territory on the 1-hr. Keeping an eye on it.
Oh yeah, and another thing about that averaging in strategy. If you're aiming for a specific TP, and you keep adding to a losing trade, you're going to need a much bigger move just to break even, let alone profit. It can really mess with your risk management if you're not careful. Sometimes it's better to take a small loss on an initial position that goes against you, and then look for a completely new setup rather than trying to salvage a trade that's clearly not working. The market can stay irrational longer than you can stay solvent, right? Just something to consider.
