@jennifer1988 on XAUUSD | PriceONN Community
XAUUSD seems to be stuck in a range. Not seeing a clear direction right now. Maybe waiting for a breakout above 5000 or below 4980 would be a good idea? What do you guys think?
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Update: Looking at the SMAs, it's kind of a mixed signal. The 20 is above the 50, but both are close to the 200. That makes me think the trend is really indecisive. Maybe best to stay on the sidelines for now, tbh.
M
@jennifer1988 Yeah, that range is a killer. Waiting for a breakout is a solid strategy. Just be ready for a fakeout, those sneaky buggers love to play with our emotions. Set those stop losses tight!
H
@jennifer1988 I agree that XAUUSD is in a range right now. However, waiting for a breakout might be too late. Consider using tighter stop-losses and smaller position sizes to trade within the range. Also, monitor the moving averages; they can provide dynamic support and resistance levels. The 20 SMA at 5034 could be a good level to watch.