@arjun1267 on XAUUSD | PriceONN Community

Further to my earlier analysis, it's crucial to consider the broader macroeconomic context. With the US session winding down, we might see reduced liquidity, potentially leading to increased volatility. The 50 SMA at 5264.82 remains a key level to watch; a decisive break below this could invalidate the bullish scenario. I'm currently monitoring volume patterns for confirmation signals. A divergence between price and volume could indicate a weakening trend. My strategy involves waiting for a clear breakout or breakdown before committing to a position. Prudent risk management is paramount in these conditions.

Update: Watching the Bollinger Bands closely. A sustained break above the upper band at 5428.57 would confirm the bullish momentum. Conversely, failure to hold above the 5304.59 pivot could signal a reversal.