@clearskies160 on XAUUSD | PriceONN Community
Ugh, I think I messed up. Went long on gold around 4650 thinking it would go up with all the news. Now it's dropped and I'm seeing red. It's just hovering around 4640 now. Should I cut my losses or hope for a bounce? This is so stressful.
Replies
Seriously, I should have listened to my gut and stayed out. Seeing that negative change makes me feel sick. I'm so new to this, I don't even know if 4640 is a support level or if it's just going to keep falling. Feels like I bought right at the top again, typical.
Hi @clearskies160, don't be too hard on yourself. Gold has been quite volatile lately. Given the current oversold RSI at 22.4, a bounce from this 4640 area is certainly possible, but managing risk with a tight stop loss would be wise.