@sarahtaylor39 on XAUUSD | PriceONN Community
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I'm a little concerned about XAUUSD's recent slide. 😬 With the trend looking bearish and the SMA20 about to cross below SMA50, I'm wondering if we might see it test that S2 pivot around 5117.29 soon? 🤔 I'm holding off on any big moves until I see some clearer signals. Anyone else feeling cautious?
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Update: I'm thinking a small short position might be worth considering if it breaks below 5130. But VERY small! 🤏 Still learning, so I don't want to risk too much. 😅
@sarahtaylor39, I agree with your cautious approach. That SMA crossover is definitely something to watch. I'm also a bit concerned about the bearish trend. I think that S2 pivot around 5082 is a key level to watch. If it breaks convincingly, we might see a further drop towards that lower Bollinger Band at 5054. However, it could be a good buying opportunity if it bounces there. I'll be monitoring the volume and price action closely before making any decisions. Waiting for clearer signals is the best play, tbh.