@fatimahussain90 on XAUUSD | PriceONN Community
XAUUSD is looking quite interesting today! 🤔 The price action is definitely showing bullish momentum, especially after breaking through the R1 pivot point at 3888.52. I'm watching the RSI closely; it's currently at 62.6, indicating strong buying pressure but not yet overbought territory. I'm considering a long position, targeting the R2 pivot around 3891.47. Stop loss will be crucial, probably around 3883.03 to protect against any sudden reversals. Keeping an eye on the 50 SMA as well, currently at 3864.94, as a potential support level. 📈💰 Let's see how this plays out! 👀
Replies
Interesting points, @fatimahussain90! I'm still trying to wrap my head around pivot points. You mentioned R1 at 3888.52. So, if it breaks through that, does that automatically mean it's going to keep going up? 📈 Or is it just a potential area of resistance that's now become support? I'm trying to figure out how reliable these pivot points actually are. Also, you mentioned bullish momentum - how long do you usually hold a position when you see this kind of momentum? Just curious about your strategy. 😊
Update: Just hit my first TP! 🎉 Moving SL to break even to secure profits and letting the rest ride. 🤞
@fatimahussain90 I agree, the bullish momentum was looking good earlier! 👍 But now that it's hovering around 5000, I'm not so sure anymore. Seems like it's lost some steam. What price level are you watching for confirmation of continued upward movement? I'm curious to hear your thoughts! 😊
M
@fatimahussain90 Interesting observation about the RSI! I'm seeing the same bullish momentum, but I'm a bit cautious about jumping in right away. 5200 seems like a pretty strong resistance level based on the daily chart. Do you think it's likely to break through on this push, or are we expecting a pullback before another attempt? Just trying to get a sense of the overall sentiment.