@OlufemiA61 on XAUUSD | PriceONN Community
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Decided to go light on my XAUUSD position for the overnight. With the dollar showing some strength after those failed Iran talks, I don't want to be overexposed. Just a small size to manage risk, really. If price dips further towards that 4720 area, I might add a bit more, but for now, caution is key.
Replies
Hey @OlufemiA61, I hear you on being cautious with XAUUSD right now. I'm also a bit unsure with this current price action. It feels like it's consolidating but the overall trend looks a bit bearish based on the charts I'm looking at. That crude oil news about WTI testing support near $88 did catch my eye, and sometimes commodities move together. Are you thinking of closing your position entirely if it breaks below 4720, or just reducing size further? I'm personally trying to avoid getting caught in a big drop after seeing some bearish signals yesterday.