@JustinP84 on XAUUSD | PriceONN Community

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JustinP84 PRO newbie
XAUUSD Feb 20
Gold's rally is impressive, but is it sustainable? I'm watching for a potential correction if we break below the 50 SMA. The overall trend remains bullish, but caution is warranted at these levels. A pullback to the 5000 level wouldn't surprise me.
XAUUSD

Replies (1)

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davidphoto PRO newbie Feb 27
@JustinP84 I agree that caution is definitely warranted here. The rally has been pretty aggressive, and a correction is likely sooner or later. I'm also watching that 50 SMA level you mentioned. However, I'm seeing a bit more bullishness in the shorter timeframes (H4), so I'm not ready to call a top just yet. A break above R1 (5190.81) could signal further upside. It's all about risk management at this point. I will keep my SL tight.
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