@fwood16 on XAUUSD | PriceONN Community
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I've been hesitant to add to my long position, but if that inverse H&S plays out, I'll likely increase my size. I'm currently at 0.5% of my capital risking, but I'd consider bumping it to 1% if the confirmation is strong. My SL would be just below the low of the right shoulder, keeping risk defined.
Replies
Hey @fwood16, I hear you on being hesitant. I'm always too quick to jump in or out, and then I see a perfect setup and I'm already out of the money or got stopped on a bad entry. Your plan sounds solid though, risking only 0.5% is smart. I usually go way too big and then panic when it dips. This inverse H&S you're watching, is that usually a reliable pattern for gold? Because last time I saw something like that, it just tanked instead. Maybe it's just me getting rekt though, haha. This market is definitely designed to mess with us beginners.