What will be more actionable and profitable for an active trader XAUUSD or GBPUSD?

[sureshotfx]

I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?

 

[Enivid]

XAUUSD would probably be more appropriate for active trading. However, that's a strange goal to set to "trade a minimum of 8-10 times a day". What if there are no good opportunities throughout the day?

 

[sureshotfx]

Thanks for the recommendation. If there's no good opportunity then surely I must pause.

 

[Zerologic]

Gold trading, in my opinion, requires paying attention to its higher volatility than GBPUSD, the risk is higher in gold than GBPUSD, but the profit potential is greater.

 

[NoShowBrooks]

I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?

It depends on your trading style. Gold can be more volatile and can offer larger moves and GBP can be more responsive to the market news and economic updates.

 

[Zerologic]

The high volatility of gold provides the potential for high gains, but in line with the risk, a stop loss that is too tight is often hit by gold volatility. Some traders may use gold for scalping.

 

[ChelseaR]

Yeah, Gold price is recovering from the recent lows but I think going upside further might be limited due to the rebounding dollar. The market remains bearish while below the 21-day SMA and with the RSI below 50.

 

[David79]

Yeah, Gold price is recovering from the recent lows but I think going upside further might be limited due to the rebounding dollar. The market remains bearish while below the 21-day SMA and with the RSI below 50.

I feel dollar could cap upside. What do you think a break above 21 day SMA would shift the trend?

 

[Zerologic]

I think gold is still facing challenges ahead of Christmas and New Year, perhaps gold trading volume will also decline on the spot market.

 

[ChelseaR]

I think there could be a potential shift in the momentum but I would always confirm it with RSI moving above 50 and other key resistance levels.

I feel dollar could cap upside. What do you think a break above 21 day SMA would shift the trend?

 

[David79]

I think there could be a potential shift in the momentum but I would always confirm it with RSI moving above 50 and other key resistance levels.

Make sense. You rely on RSI alone or combine it with other indicators for a safer side?

 

[ChelseaR]

Make sense. You rely on RSI alone or combine it with other indicators for a safer side?

Definitely, I combine RSI with moving averages and support or resistance levels for confirmation.

 

[David79]

Definitely, I combine RSI with moving averages and support or resistance levels for confirmation.

Got it! Combining RSI with moving averages and resistance levels really helps. Also, do you use any specific timeframe for these indicators?

 

[ChelseaR]

Got it! Combining RSI with moving averages and resistance levels really helps. Also, do you use any specific timeframe for these indicators?

Currently sticking with 1-hour and 4-hour timeframe to get a better understanding of the momentum and trends. What about you?

 

[David79]

Currently sticking with 1-hour and 4-hour timeframe to get a better understanding of the momentum and trends. What about you?

I focus on the daily chart for a broader view

I usually focus on the daily chart to get a broader view, but Are you finding momentum on these TF?

 

[ChelseaR]

I focus on the daily chart for a broader view

I usually focus on the daily chart to get a broader view, but Are you finding momentum on these TF?

Yeah, I am able to get some momentum on those timeframes

 

[rmufti68]

I think gold is still facing challenges ahead of Christmas and New Year, perhaps gold trading volume will also decline on the spot market.

Gold is an event driven asset which can easily change direction with any upcoming global event while the major currency pairs can be better options to trade however it depends on our own trading skills and choice of choosing the right asset which makes us money.

 

[Zerologic]

Gold is an event driven asset which can easily change direction with any upcoming global event while the major currency pairs can be better options to trade however it depends on our own trading skills and choice of choosing the right asset which makes us money.

This week, waiting for the Fed meeting, gold could be affected by interest rate news, although it is predicted that the Fed will leave interest rates unchanged amid Trump's policy on trade tariffs.

 

[David79]

Anyone trading in Gold?

 

[Chadpowell]

I want to start actively trading for a living and want to trade a minimum of 8-10 times a day. So, what will be more suitable for me?

for trading in such a short time you should find something very volatile and also you should be really good at trading! for this reason gold is better IF YU KNOW HOW TO TRADE GOLD