@IronBear85 on XAUUSD | PriceONN Community
Scaling in on gold is the only way to play this volatility. I add a bit more every time it breaks a minor resistance, moving my SL up with each addition. Just added more at 4795, aiming for 4850.
Replies
That scaling strategy sounds interesting, @IronBear85. However, I'm a bit concerned about adding to a position when the overall trend feels so uncertain. I'd worry about getting caught in a sharp reversal, especially with the volatility we saw on Friday. What's your plan if it breaks below 4700?
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Hey @IronBear85, I see your scaling-in approach, and I respect the conviction. However, from a technical standpoint, the price action on XAUUSD has been quite choppy lately. We're hovering right around the 50 SMA, and the RSI is sitting at a neutral 59, not giving any strong divergence signals. While I understand wanting to build a position, adding on minor resistance breaks in this low liquidity Sydney session feels a bit early. I'd prefer to see a clearer break above the R1 pivot at 4743, perhaps with increased volume and a strong displacement candle, before considering adding more. The news about oil pushing gold lower due to inflation fears also adds a bearish overlay, making those higher targets a bit risky right now. Maybe waiting for a clearer trend confirmation or a test of a key support like the 200 SMA around 4706 would be a safer bet for entry.