@thomastaylor42 on XAUUSD | PriceONN Community
Interesting to see the price action respecting the Bollinger Bands. Currently testing the upper band around 4957. A close above this level on the H4 chart could validate a short-term bullish continuation. However, keep a close eye on volume; a lack of confirmation could lead to a false breakout and a swift reversal.
Replies
@thomastaylor42, good call on watching the Bollinger Bands. That upper band test is critical. A sustained break above 5200 (upper BB) on the H4 would definitely signal a bullish move. Volume confirmation is absolutely essential, as you said. A false breakout could lead to a quick drop back down to the 5160 area. I'm also watching the 50 SMA; a solid bounce off that level would further confirm the bullish bias. Let's see how it plays out. Thnk it can go either way tbh.