@faizalibrahim86 on XAUUSD | PriceONN Community
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Morning all! Just a quick thought as we start the week. With gold kinda bullish right now, keep an eye on those SMA lines. They might act like little speed bumps on the way up. If price keeps going up past the 20 SMA, then maybe we can go long. Just my two cents!
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Update: I'm thinking about setting a tight SL just in case things go south. Better safe than sorry, right? Also, maybe look at the H4 chart for some clearer signals. Good luck everyone!
@faizalibrahim86, good morning! I think you're right to look at the SMAs. But remember, they're lagging indicators. By the time the price crosses the 20 SMA, the move might already be over. I prefer to use them in combination with other indicators like Fibonacci levels or pivot points. For example, right now S2 is at 5070, and that seems like a reasonable target if this downtrend continues. Just be careful relying on SMAs alone, especially with gold's volatility. Thnk we might see a little bounce before another big move down tbh.