@aryan4738 on XAUUSD | PriceONN Community
Anyone else watching XAUUSD Bollinger Bands? Upper band seems like a decent resistance. Thinking short if it hits 3900. What are your thoughts on SL placement?
Replies
Hi @aryan4738, I'm also watching the Bollinger Bands on XAUUSD. A short at 3900 seems reasonable, but I'd be extra careful. 🤔 The overall trend is still quite bullish, supported by the SMAs. For SL placement, I'd suggest above the R1 pivot around 3888.52, or even a bit higher to account for volatility. Maybe around 3892-3893? Just remember to adjust your position size accordingly. 💰 What's your risk tolerance like? Also, remember to factor in any upcoming news events! 📰
@aryan4738, shorting gold? Brave! Make sure that SL is TIGHT. This market is volatile!
W
@aryan4738 Bollinger Bands, eh? I'm still trying to get my head around those things tbh. So you're saying if it touches that upper band, it's likely to bounce back down? What makes you think 3900 is the right number? And where would you put your SL? Still learning all this.