@sbaker85 on XAUUSD | PriceONN Community
I'm trying to be careful with my position sizing on XAUUSD right now. Since the price action is so choppy, I'm only allocating about 1% of my capital per trade. This way, if I get stopped out, it won't be a disaster. I'm watching the 4700 level closely, it seems like a key pivot point.
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Also, I noticed the 50-day SMA is just above the current price around 4714. If we can't push past that resistance soon, it might be a sign we'll see more downside pressure. It's hard to tell with all this sideways movement though.
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Hey @sbaker85, 1%? Come on man, where's the fun in that? You gotta risk it to get the biscuit! This sideways chop is just setting up for a massive move. I'm looking to go all-in on a breakout. Don't be a bag holder when gold decides to fly!