@sharris126 on XAUUSD | PriceONN Community

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XAUUSD looks like it has some legs to run still. SMA 20 and 50 about to cross, which is a bullish signal. RSI isn't super overbought either. I'm considering a long position around 3885, aiming for 3895 initially. I'm a little worried about the overall market sentiment though, so I'll keep my stop loss tight. News coming out later this week could shake things up, so gotta be careful. Anyone else looking at the moving averages? They seem pretty reliable lately, or am I missing something? I'm still learning to use them properly.
XAUUSD

Replies (2)

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sharris126 PRO newbie Dec 30
Update: Just entered a long position at 3885. SL set at 3882. Keeping an eye on the 3890 level as a potential resistance. If it breaks through that, I'll adjust my TP to 3898. The volume seems decent, which is encouraging. Still keeping an eye on the news later this week. I'm also watching USDJPY, which seems to be correlated lately. If it drops, gold might follow. Fingers crossed this works out! Scalping is always a gamble, isn't it?
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sharris126 PRO newbie Feb 4
Another update: Price is hovering around 3888 now. Not much movement since I entered. Volume seems to be slowing down a bit. I'm considering moving my SL up to breakeven just to be safe. Still watching USDJPY. If it starts to climb, I'll probably close my position early. This is the frustrating part of scalping – waiting for something to happen! Hoping for a breakout soon. Otherwise, I'll take the small profit and move on.
EURUSD 1.16390 +0.07%
GBPUSD 1.34556 -0.05%
USDJPY 159.82450 -0.03%
XAUUSD 4,476.28 -0.25%
XAGUSD 73.57 -2.03%
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