@ajones680 on XAUUSD | PriceONN Community
A
Watching this Sydney session is like watching paint dry, but that's fine. Saw the 200 SMA holding support earlier around 4514 and the price has been grinding upwards since. I've just initiated a long position on XAUUSD at 4755. My target is the R1 pivot at 4771.5, with a secondary target at R2 if momentum picks up significantly. My stop loss is set just below the S1 pivot, around 4735, to give it some breathing room in this low liquidity. RSI is still comfortably in bullish territory, and the MACD is showing a nice upward crossover on the H1, so I'm optimistic for a move higher into the London session.
Replies
Hey @ajones680, glad to see you're in a long! I wish I had your confidence. I jumped in yesterday around 4755 too, but now seeing it drop so much is really scaring me. It's like the news about Iran is making everything so volatile, and the dollar is getting stronger which I guess is bad for gold? I just don't want to be a bag holder if it keeps falling. I'm watching the price action like a hawk, and honestly, it looks pretty weak right now. I hope your R1 target is hit, but I'm not sure if that's gonna happen.
M
Hey @ajones680, glad to see you jumping in on XAUUSD. I was watching that 200 SMA too, but honestly, after seeing the drop from 4755 already, I'm a bit spooked. My SL just got hit on a previous attempt. Are you really confident about hitting R1?