@george582 on XAUUSD | PriceONN Community
Looking at a potential long entry on XAUUSD around the 5035 level, targeting a move towards 5050. SL would be placed just below the pivot point at 5030 to limit risk. This is based on the assumption that the current bullish momentum continues and the price breaks through the first resistance level (R1). However, I'm also mindful of the Bollinger Bands indicating potential overbought conditions, so I'll be watching price action closely for any signs of reversal. What are your thoughts about this setup?