@rgupta172 on XAUUSD | PriceONN Community
R
Looking at the daily chart, XAUUSD seems to be maintaining its upward momentum. The 20 SMA is well above the 50 SMA, which is a positive sign. However, the Bollinger Bands indicate that we're approaching the upper band around 5200.3. This could suggest a possible overextension and a subsequent correction. I'm considering setting a tighter SL, maybe around 5135, to protect against any sudden downturn. What are your thoughts on the bollinger bands here? Is it a reliable indicator for potential reversals?