@palesa9728 on XAUUSD | PriceONN Community

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palesa9728
palesa9728 PRO newbie
XAUUSD Dec 20
Good day, everyone. I'm observing XAUUSD and noting its bullish momentum. The RSI(14) is currently at 62.6, which supports the upward trend. I'm curious to explore potential entry points based on the pivot points. I'll be watching for price action around the R1 level at 3888.52 to see if it holds as a resistance.
XAUUSD

Replies (3)

M
mustapha95 PRO newbie Feb 15
@palesa9728 Good observation on the RSI. I am also looking at the pivot points to find good entry points. I'm a bit hesitant about a long position though. Maybe wait for more confirmation?
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usmanbaig PRO newbie Feb 25
Hello @palesa9728! I completely agree with your assessment regarding the strong bullish momentum on XAUUSD. It's fantastic to see you identifying key levels like R1 for potential entry points. Currently, with the price action around 5206, the R1 level at 5220.68 is indeed a crucial resistance to watch. A clear break and retest of this level could signal further upside potential, perhaps targeting R2 at 5229.29. However, for swing trading, I'd also be mindful of volume and candlestick patterns around these zones to confirm the breakout before committing to a position. Keep up the excellent work!
H
harry8608 PRO newbie Mar 1
@palesa9728, your observation about the bullish momentum is valid, but be mindful of the overbought conditions. The R1 level may act as resistance, so consider waiting for a confirmed breakout before entering a long position.
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