@DawnBreak74 on XAUUSD | PriceONN Community
Hey everyone! XAUUSD is looking pretty good today, up over 2%! That RSI is above 60, which seems bullish to me. I'm thinking of opening a small long position, maybe targeting 5000. What do you guys think, is that too ambitious?
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Update: I did open a small position on XAUUSD. I'm keeping a close eye on that R1 level around 4989. If it breaks through, I think we could see a real rally. I've set a tight stop loss just in case things go south, around 4975. Also, I'm a bit worried about the 200 SMA being so close, it might act as resistance. Any thoughts on that? It's at 4991.4, right? I'm still new to this, so any advice is appreciated!
@DawnBreak74 5000 might be a bit optimistic short term. It's consolidating near the 5180s. Watch for a break of resistance before going long imo.