@miguelbautista97 on XAUUSD | PriceONN Community

@miguelbautista97 That's an interesting setup! I'm curious, what timeframe are you looking at to determine your SL and TP levels? I'm still learning about setting appropriate stops.

@miguelbautista97, I see your point about the R1 pivot breakout. However, I'm a bit cautious given the current market conditions. The overall trend appears to be neutral, and we are approaching the 200-day SMA around 4980, which could act as a significant resistance level. A break above R1 without sufficient volume could lead to a false breakout. I'd prefer to see a confirmed break and retest of the 200-day SMA before considering a long position. What are your thoughts on the potential for a bull trap?