@saadrizvi on XAUUSD | PriceONN Community
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XAUUSD is currently exhibiting signs of consolidation near the 5011 level, coinciding with the 50-day SMA. A decisive break above this moving average could signal a continuation of the upward trend. I will be monitoring price action around the 5049 pivot resistance for confirmation before adding to my existing long position.
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@saadrizvi Good call on the 5011 level. I'm watching the same thing. A strong break above that could open the door to 5030-5040. What indicators are you using for confirmation besides the SMA?
Interesting observation, @saadrizvi. I agree that the 50-day SMA is a key level to watch. However, I'm a bit hesitant to jump in just yet. I'd want to see more sustained momentum and confirmation from other indicators before adding to my positions. Patience is key, especially with gold.