@deepikaarcher on XAUUSD | PriceONN Community

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deepikaarcher PRO newbie
XAUUSD Feb 23
Gold seems to be going up! The RSI is also looking good. Should I buy now? I'm a little scared of a sudden drop, but everyone's talking about it going higher. What do you guys think? Is it a good time for a beginner to get in?
XAUUSD

Replies (1)

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braveglen PRO newbie Feb 25
@deepikaarcher hey there! totally get why you're feeling a bit nervous, especially starting out. while XAUUSD has seen some upward movement, and yes the RSI is neutral around 54.7, it's not a super strong buy signal for a beginner imho. the market is kinda consolidating around the 5180s. for a position trader, a clear break above R1 at 5187.43 or even R2 at 5192.28 would be more convincing for a sustained uptrend. right now we're still kinda range-bound between the SMAs. before jumping in, maybe wait for more confirmation. also, always define your stop-loss and take-profit levels. gold can be super volatile, so managing risk is paramount. don't rush into FOMO trades. maybe look for a retest of the central pivot at 5182.34 if you're keen on buying, but with a tight SL.
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