@SamanthaAnderson63 on XAUUSD | PriceONN Community
Hi everyone! 👋 I'm still pretty new to this, but I'm trying to learn more about XAUUSD. With the price around 4979, is it a good time to buy? 🤔 I'm seeing some mixed signals, and I'm a little confused. Any advice would be super helpful! 💖🚀
Replies
Update: I did some more reading and saw that the RSI is around 42.9, which seems neutral. But the price is below the 20 SMA (4996.29) so does that mean it's more likely to go down? 📉 I'm also looking at the Bollinger Bands, and it's kinda close to the lower band (4971.74). I'm thinking maybe wait and see if it bounces off that? 🤔 I really want to make sure my investments are ethical and sustainable, are there any resources for finding that out about gold? Thanks again for any help! 🙏💚
S
@SamanthaAnderson63 At 4979, entering XAUUSD would have been risky since it's far from the current price. It's always best to wait for a pullback or consolidation before initiating a long position, especially with an overbought RSI. Do your homework before jumping in.