Potential long setup on XAUUSD! Price is hovering around 5000, and the RSI is showing a neutral signal. I'm waiting for a confirmed break above R2 at 5006.59 before entering. A tight stop-loss just below 4996.91 (R1) will manage the risk. Let's see if gold can continue its upward momentum!
Update: I've initiated a small long position in XAUUSD after seeing a strong bullish candle close above 5006.59. My initial target is 5015, anticipating some resistance around that level. I'm closely monitoring the RSI to ensure it doesn't become overbought, which could signal a potential pullback. If the price retraces below 5000, I will exit the position to minimize losses. This is just a small swing trade, so I'm not expecting a huge move, but the risk/reward ratio looks favorable. Let's see how it plays out!
