@kunal2282 on XAUUSD | PriceONN Community

Update: Taking a closer look at the Bollinger Bands, the upper band is at 5018.95. This could be a potential profit target for a long position. However, the 200-day SMA at 4991.41 might act as immediate resistance. I'm also keeping an eye on the pivot points; R1 is at 4989.84 and R2 is at 4994.72. Will be interesting to see if XAUUSD can break through these levels! I think a tight stop-loss is essential given the volatility.

@kunal2282 While the bullish momentum is evident, relying solely on the RSI and SMAs can be misleading. The RSI is already signaling overbought conditions, and a pullback is likely. Consider the broader market context, including treasury yields and the dollar index. Also, look at the bollinger bands. The upper band is at 5096, which it's already broken above. A close back below that could be a short signal. Waiting for a confirmation before entering a long position might be prudent. It's generally a good idea to wait for the H4 to confirm the D1 signals.