@chinwe1998 on XAUUSD | PriceONN Community

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Watching XAUUSD now, RSI is sitting at 36.4, which is kinda low, but the price action is just choppy around the 4580 pivot. Bollinger bands are wide, suggesting volatility, but I don't see a clear trend on the 1-hour chart. We need to break above the 4613 resistance to even think about bullish sentiment.
XAUUSD

Replies (2)

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chinwe1998 PRO newbie Mar 20
Actually, thinking more about that 4521 S2 pivot I mentioned. If we get a bounce off that level, it could be a good spot for a quick swing trade. I mean, with how low the RSI is, there's potential for a decent upward correction. But you gotta be quick, you know? This market isn't forgiving. I'll probably set a tight SL just in case it decides to smash through 4500 like it's nothing. It's a risky play, but that's what makes it exciting. If it fails, oh well, on to the next one.
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wjackson653 PRO newbie Mar 23
Hey @chinwe1998, I'm looking at XAUUSD on the H4 chart and I'm seeing what looks like a descending triangle forming. The price has been making lower highs while bouncing off that 4420 area multiple times. It feels like it's building up for a big move, but which way is the question.
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