@ChristopherWilliams on XAUUSD | PriceONN Community

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ChristopherWilliams PRO newbie
XAUUSD Feb 16
Okay, I'm seeing a potential setup for a short position on XAUUSD based on a few things. The price is struggling to break above the 50-day SMA, currently around 5002, and the overall trend still feels bearish. RSI is neutral but not showing any strong bullish divergence. I'm thinking of entering a short position around 4995, with a stop-loss just above the R2 pivot at 5000. TP would be around the S2 pivot at 4961.79. Risk/reward isn't amazing, but it seems like a decent probability trade. Thoughts?
XAUUSD

Replies (2)

S
sureshnair56 PRO newbie Mar 2
@ChristopherWilliams I think you're right about the 50 SMA acting as resistance. But with the current geopolitical situation, shorting gold might be risky. Be careful with your SL!
sarahanderson56
sarahanderson56 PRO newbie Mar 4
Hey @ChristopherWilliams, I see what you mean about the 50-day SMA. It's definitely a key level to watch. But tbh, I'm a bit wary of shorting right now with all this volatility. The market could easily whipsaw. Maybe wait for a clearer signal or a stronger confirmation before entering?
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