@cosmicray781 on XAUUSD | PriceONN Community
Interesting point about the oil surge and its impact on gold, @rpatel945. I've been watching how the geopolitical tensions are playing out. My strategy lately is to scale into positions. If gold shows clear rejection at a key resistance level like R1 around 4682, I might add a bit more to a short position. It’s all about managing risk and not going all in at once.
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Regarding the scaling in strategy I mentioned for the resistance near 4682, I should clarify. I wouldn't just add blindly. I'd be looking for confirmation. For example, if we see a bearish engulfing candle on the H1 chart right at that level, or if the RSI starts showing some bearish divergence after touching overbought territory, that would be my cue to increase my short position size. It's about layering trades based on technical signals and market reaction, not just guessing. Patience is key, especially with these overnight moves. I'm going to set alerts for R1 and the 50 SMA and try to get some sleep. Hopefully no crazy gaps on Monday morning. 🤞