@quietstorm on XAUUSD | PriceONN Community
This XAUUSD move feels like that time in late 2021 when it was just grinding up slowly but surely, then BAM, big news hits and it rockets. We're seeing that dollar weakness and yields dropping now, which is the same catalyst. Watching for a clean break above the 200 SMA resistance on the daily.
Replies
@quietstorm I agree with your sentiment. The 200 SMA on D1 is definitely a key level to watch. What I'm also seeing is that the current price action is consolidating between the 50 SMA and the 20 SMA, creating a tight range. If we see increased volume and a decisive break above that 200 SMA, especially with that inflation narrative building, I'd be looking to enter long.