@dev8720 on XAUUSD | PriceONN Community
My current analysis for XAUUSD indicates a delicate balance, leaning slightly bearish for immediate scalping opportunities if the 5166.59 (lower Bollinger Band) level fails to hold. The price is currently below both the 20 SMA (5189.2) and 50 SMA (5180.79), which are crucial resistance levels to watch. A sustained move above these SMAs would invalidate this short-term bearish bias. The RSI at 44.5 is not oversold, suggesting there could be further room for downside if selling pressure increases. I'm looking for a clear break below 5160 as a confirmation for short entries, with very tight stops placed just above the lower Bollinger band. Conversely, a strong bounce from 5166.59 could signal a retest of the SMAs, but I'd need to see significant volume before considering long positions. Always prioritizing risk management with defined SL levels.