@kumarmurthy49 on XAUUSD | PriceONN Community

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K
kumarmurthy49 PRO newbie
XAUUSD Feb 25
The current upward movement in XAUUSD is quite noticeable, especially with the price currently above the daily pivot. I am observing the R1 level around 5206 very closely. It makes me wonder if this level will act as strong resistance, potentially causing a pullback. As a new trader, I am trying to understand these dynamics better.
XAUUSD

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K
kumarmurthy49 PRO newbie Feb 25
To add to my previous point, I am also looking at the Bollinger Bands. The price is currently near the upper band, around 5214. This makes me cautious about initiating any long positions right now, as it could easily reverse from there. My concern is managing risk effectively if I were to enter. I typically aim for very short-term moves, but the current volatility makes me question the optimal entry and exit points. I would appreciate any insights on how experienced traders manage scalping gold in such conditions, especially with the RSI being neutral. It feels like a risky environment for quick trades.
EURUSD 1.16167 -0.07%
GBPUSD 1.35164 -0.05%
USDJPY 155.95350 +0.10%
XAUUSD 4,396.03 -1.72%
XAGUSD 65.65 -1.94%
BTCUSD 79,958 +0.27%
SP500 6,572.87 +0.74%
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