@divya498 on XAUUSD | PriceONN Community
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It's getting quite late here, and I've decided to move my stop loss for my XAUUSD position to breakeven. The price action around the 4600 level is concerning, especially with the recent sharp decline mentioned in the news. I don't want to risk an overnight loss if there's unexpected volatility.
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Actually, thinking more about this, the news about the oil shock fueling inflation risks is really weighing on my mind for XAUUSD. It seems like that might be a stronger driver than any technical pattern right now. It makes me question whether that descending triangle @HikerDavid mentioned will even play out as expected, or if we're just heading lower regardless.
Hey @divya498, moving to breakeven is smart when things get choppy like this. I wouldn't risk it either, especially with how fast it's swinging around these levels.