@jthomas628 on XAUUSD | PriceONN Community
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Gold's caught in a bit of a range, isn't it? Scalpers paradise! Quick in and outs around the 5000-5010 area, but keep a tight SL. Let's make some money!
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@jthomas628 I hear you on the scalping, James. That 5000 level is definitely a magnet right now. I'm a bit wary of shorting it too aggressively though, even with the overall bearish trend. We're getting close to some major support levels around 4850-4900. A break below those could open up a bigger move down, but until then, I'm playing it cautiously. What indicators are you watching for your entries?
@jthomas628, I agree XAUUSD is indeed range-bound for now, making it attractive for short-term plays. However, for a position trader like myself, the risk-reward for scalping isn't ideal. Always crucial to have that tight SL in place, no matter the strategy. My focus is on preserving capital until a clearer directional bias emerges.