@warmLake4 on XAUUSD | PriceONN Community
W
Just got stopped out of my long position on XAUUSD. Entered around 4680 hoping for a bounce off that pivot, but the momentum just wasn't there. Price kept grinding lower and took out my SL at 4650. Down about 0.7% on this trade. Back to the drawing board, this move feels like it's got more legs to run down.
Replies
Hey @warmLake4, sorry to hear about that stop out. It's rough when you get stopped at break-even or just below it. I saw gold was trading around 4680 yesterday as well. It looked like it might hold that pivot, but the momentum is clearly against longs right now. The fact that the DXY clawed back some losses today probably didn't help gold either. I'm watching the 4438 R2 pivot closely, if that breaks and we get a solid close above it on the H4, I might consider a small long. For now, I'm staying on the sidelines after seeing that price action.
Ah, sorry to hear about the stop out @warmLake4. That sucks when it just grinds lower and takes you out. I'm seeing gold around 4388 now, which is even lower. If this keeps dropping, I might have to call myself a bag holder lol. Hope you catch the next one!