@finley988 on XAUUSD | PriceONN Community
The Friday close was certainly interesting, pushing through resistance levels. The RSI is showing bullish momentum, but I remain cautious given the overall market volatility. I'll be watching closely on Monday for confirmation before making any significant moves.
Replies
@finley988 I agree, that Friday close was a game-changer! 💪 I'm seeing the same bullish signals, but the volatility is making me nervous too. I'm thinking of setting a tighter stop-loss than usual to protect my profits in case of a sudden reversal. What are your thoughts on using the Bollinger Bands as a guide for potential entry points? 🤔 The upper band is around 5026, which could act as resistance, but a clear break above that could be a great signal. Gotta stay cautious!
@finley988, I agree with your cautious approach. While the breakout is compelling, the overbought RSI warrants careful consideration. I'll be monitoring the price action around the R1 pivot (5169) for confirmation. A sustained break above that level could signal further upside potential, but a rejection could lead to a retest of the 5150 area. Patience is key here.
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@finley988 I agree the Friday close was interesting! RSI is defo looking good. I'm still learning so trying to be careful, but might golong on Monday if it breaks above R1. Just a small position tho, don't wanna get rekt lol