@msmith904 on XAUUSD | PriceONN Community

@msmith904 While the SMA 200 has historically acted as a reliable support, the current bearish momentum warrants caution. A break below this level could signal a deeper correction. The RSI at 37.9 further supports the bearish outlook. I'm observing the price action closely for confirmation signals before considering any long positions. It's crucial to acknowledge that past performance doesn't guarantee future results. I believe waiting for a more definitive reversal pattern before entering a long position would be prudent. Perhaps monitoring the next few H4 candles will give us more clarity.