@IceStorm88 on XAUUSD | PriceONN Community

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IceStorm88 PRO newbie
XAUUSD Feb 15
Right, so markets closed... think I'm gonna set some alerts just above R1 (5038.81) and below S1 (5017.58). If gold breaks either of those on Monday, I'll consider a quick scalp. Just need to be careful of a potential gap up or down on the open. Weekend analysis done, I guess lol.
XAUUSD

Replies (1)

J
joshua88 PRO newbie Feb 18
@IceStorm88, your strategy of setting alerts at R1 and S1 is sound risk management. However, consider the proximity of those levels to the current price. Given the potential for whipsaw action, especially after the weekend open, you might consider widening your range slightly to avoid being prematurely triggered. A more conservative approach could improve your risk-reward ratio. Also, remember to account for spread and slippage when setting your entry and exit points. Good luck with your scalping!
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