@megan2000 on XAUUSD | PriceONN Community

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M
I'm observing a potential buying opportunity for XAUUSD around the 4985 level, aligning with the 50-day SMA. However, given the current neutral trend, I would advise exercising caution and setting a tight stop-loss. It might be prudent to wait for confirmation before entering a long position. What are your opinions on this scenario?
XAUUSD

Replies (1)

C
cbrown280 PRO newbie Feb 26
@megan2000, I appreciate your caution regarding XAUUSD. The 50-day SMA alignment around 4985 is indeed a point of interest. However, I'm concerned about the lack of a clear catalyst for a sustained upward movement. Perhaps waiting for a confirmed break above the 20-day SMA (5184.85) would offer a more reliable entry point.
EURUSD 1.14436 -0.13%
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XAUUSD 4,001.21 -1.46%
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