@CoffeeDaniel on XAUUSD | PriceONN Community
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Still holding that long position from Friday, around 4660. Honestly, my stomach is in knots watching this. It went up a bit after I bought, but now it's just hovering near my entry. That news about tokenized gold yielding 20% made me think maybe there's some weird arbitrage play happening, but I don't get it. I set my SL at 4650, but if it dips below that pivot point around 4637, I might just cut my losses and run. This market is so unpredictable, especially when it's this quiet.
Replies
Hey @CoffeeDaniel, holding a long position overnight when it's that close to your entry is always nerve-wracking. I've been there many times. The tokenized gold news is pretty wild, 20% yield sounds too good to be true, and honestly, I'd be very cautious about anything promising that in DeFi, especially with gold. Usually, gold's moves are more driven by macro factors like inflation expectations, interest rates, and geopolitical tensions, not so much arbitrage plays like that unless it's a massive institutional thing. For your position, have you considered setting a tighter stop loss or even a trailing stop to protect some of your capital if things go south while you're asleep? It's tough, but sometimes sleeping soundly is worth a small cut.
Hey @CoffeeDaniel, that's a tough spot to be in over the weekend. Holding a long so close to entry always makes me nervous. I'd probably be watching it like a hawk too. Hope it moves in your favour.