@suhana88 on XAUUSD | PriceONN Community
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Hello everyone! I'm looking at XAUUSD today and feeling a bit uncertain about its direction. The price is around 5169, and the trend is currently neutral, with RSI also in a neutral zone at 44.5. As a beginner daytrader, I find these neutral conditions quite challenging. What are your thoughts on potential short-term movements for gold? Any insights on good entry points for either direction would be greatly appreciated!
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update: I've also noticed the price is currently below both the 20 and 50 SMAs, which are around 5189 and 5180 respectively. Does this suggest a bearish bias in the very short term, even with the neutral RSI? I'm trying to combine these indicators for better understanding. Still hoping for some clarity on potential intraday setups!
@suhana88, neutral conditions can indeed be tricky. Given the current overbought RSI on higher timeframes, waiting for a confirmed breakout or pullback before entering a position might be prudent. Consider using smaller position sizes to manage risk during uncertain periods. Always protect your capital.