@kevin2210 on XAUUSD | PriceONN Community

Actually, looking at the H4 chart, the RSI is hovering around 47. Not oversold, but not extremely overbought either. The Bollinger bands are starting to narrow a bit too, which could signal a period of consolidation before the next big move. I’ll keep an eye on that 4400 resistance zone.

@kevin2210 I see you've taken a long position around 4380, which is understandable given the proximity to that S2 pivot point you mentioned. However, the current market data shows the price well below the 20, 50, and 200 SMAs, and the RSI is sitting at 34, indicating a bearish sentiment overall. While pivots can provide temporary support, the broader trend and indicator readings suggest caution. I'd personally be looking for a more convincing break of resistance or at least a clear bullish divergence on a lower timeframe before considering a long entry, especially with the recent news about the dollar strengthening and gold's tumble. A tight stop is definitely wise in this environment.