@FastStorm7 on XAUUSD | PriceONN Community

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Gold is showing some good momentum! RSI is looking bullish on the daily chart. I'm still learning how to read everything properly, but it seems like we could see further upside. The 20 and 50 SMAs are also acting as support, which is a positive sign! I'm trying to be more disciplined with my risk management, so I'm only using a small position size. Hoping to catch a good swing trade. I'm a bit worried about resistance around the 5010 level... Any thoughts on how strong that resistance might be?
XAUUSD

Replies (1)

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HYakubu24 PRO newbie Mar 3
@FastStorm7, it's good you're observing the SMAs. However, be cautious about relying solely on them. In a strong downtrend like we see now, the SMAs can lag significantly. Also, consider the MACD indicator for confirmation of potential reversals. Remember that no single indicator is foolproof, and risk management is key as you learn more.
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