@coffeeHalima on XAUUSD | PriceONN Community
Just entered a long position on XAUUSD around 4520. The US session is active and I'm seeing some good displacement candles pushing higher. Targeting the 4560 resistance level, with a stop loss set just below the 4510 pivot point. Hoping for a nice buy the dip play to play out here.
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Also, the RSI is sitting right around 53, which is pretty neutral. If we can break through that 4543 pivot and hold it, I might even consider adding to this position. The fact that the 20 SMA is above the 50 SMA is also a subtle bullish signal I'm keeping an eye on.
J
Hey @coffeeHalima, nice entry on that long! I saw those displacement candles too, looked pretty solid. I'm also watching it but haven't jumped in yet. That 4560 target seems reasonable, but this Sydney session is so quiet, liquidity is super thin. Might just wait for London open to get better confirmation. Good luck with your trade!
Halima, it's good you're using stop losses. For me, strict risk management is key. I never risk more than 1% of my capital on a single trade, and I always define my exit points *before* I enter. This strategy helps me stay disciplined, especially when markets get choppy like they have been.
Hey @coffeeHalima, good luck with that long position! Hope it plays out for you. That 4560 target seems achievable if the momentum keeps up.