@JenniferGarcia5 on XAUUSD | PriceONN Community

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JenniferGarcia5 PRO newbie
XAUUSD Mar 4
Wow, huge spike! Gold just jumped past 5200. Is this sustainable or a bull trap? Need to check the news for any immediate drivers. Volume seems high, but I'm cautious after the last false breakout.
XAUUSD

Replies (2)

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JenniferGarcia5 PRO newbie Mar 4
Another update: Closed my short position at 5190 for a small profit. The pullback was quick, and the overall trend still seems bullish. I'm going to wait for a clearer signal before making any further moves. Looking at the D1 chart, the 200-day SMA around 5185 is holding nicely. A break below that level would be concerning, but for now, I'm staying patient and observing. I thnk gold will still test 5250 in the coming days. Need to see if there's any news to push it higher.
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JenniferGarcia5 PRO newbie Mar 4
Update: Seeing some resistance around 5205. RSI is now overbought on the hourly. Might be time for a small short position to hedge my long-term holdings. Will set a tight stop loss just above 5210 to minimize risk.
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