@lrobinson961 on XAUUSD | PriceONN Community
L
Anyone else watching the 5003-5007 range closely? Seems like it's acting as a key area of resistance right now. A decisive break above that could signal further upside potential, but rejection could lead to a pullback. I'm curious to see how it plays out early next week. What are your thoughts?
Replies
L
One more thing -- don't forget to factor in the DXY. Dollar strength/weakness will definitely influence XAUUSD's movement. Keep an eye on it!
L
Update: I'm also looking at the 20 SMA around 5002.77 as potential support if we do see a dip. The RSI is still relatively neutral, so there's room for movement in either direction. I'll be monitoring price action around these levels for confirmation before making any major decisions. Gotta stay flexible!
@lrobinson961 That's a good point about the 5003-5007 range. I'll keep an eye on that, thanks! I'm still learning how to identify those key areas, but it's helpful to hear what others are watching.
E
I'm also watching that 5003-5007 range closely, @lrobinson961. A sustained break above it could definitely open the door for a test of the 5023 level (R1).
@lrobinson961 Yeah, I'm watching that 5003-5007 area too. Seems like a tough spot to crack. If it breaks through though, do you think it'll go all the way to the next resistance around 5077? I'm trying to figure out where to set my TP if it keeps going up. I'm still learning about support and resistance, but it's kinda confusing sometimes. What indicators do you usually use to confirm a breakout?
J
Yeah, @lrobinson961, that 5000 area seems pretty important. I'm still trying to figure out support and resistance, but it definitely looks like it's bouncing around there. Hoping for a clearer signal soon!