XAUUSD Live Price, Chart & Technical Analysis Guest

Okay, I'm trying a small short position on XAUUSD at 5166.80. RSI looks kinda bearish on the shorter timeframes... I'm aiming for a target around 5150, but honestly, I'm a little nervous with all this volatility. Let's see what happens 🤞

Alright, I'm seeing a potential ascending triangle forming on the H4 chart for XAUUSD. Resistance around 5192.82, coinciding with that 200 SMA that everyone is talking about. If we get a confirmed breakout above that level, I'm anticipating a move towards 5220-5230. Keep an eye on volume during the breakout, that'll be key.

Okay, digging deeper into XAUUSD... I'm spotting a potential head and shoulders pattern on the daily chart. The neckline is sitting right around 5165.77, which is also that S2 pivot. If we see a confirmed break below that, we could be looking at a significant move down, potentially towards 5130 or even lower. However, the right shoulder isn't fully formed yet, so it's still a bit early to call it. I'm also watching the RSI – it's currently at 39.8, indicating some bearish momentum, but it's not yet oversold. A break below the neckline with increasing volume would be a strong confirmation. I'm keeping my SL tight in case this pattern fails to materialize. It's all about risk management!

Another one bites the dust! Short position at 5200 just hit TP at 5165. +35 pips! Patience pays off, folks. Sticking to the plan and letting the market come to me. Feels good man!

Alright, moved my stop to breakeven on my long position. Entered around 5150 earlier this morning. Seeing some resistance around 5170, but I think it'll break through. CPI data (N2) is still the big unknown though. Gonna watch that closely. If it starts to look shaky, I'll close out completely. Risk management is key! Always protect your capital. Let's see if this thing can push higher. Golddd to the moon!!!