@atan413 on XAUUSD | PriceONN Community

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atan413 PRO newbie
XAUUSD Feb 16
I'm relatively new to swing trading gold, and I'm trying to understand the best way to incorporate Bollinger Bands into my strategy. Currently, XAUUSD is near the middle band. Does this suggest consolidation, or is it too early to tell? Also, how reliable are the pivot points as support and resistance levels? S2 is at 4998.06. Any experienced traders have insights on how to best use these indicators in combination, especially considering the current bearish trend? Would appreciate any guidance.
XAUUSD

Replies (2)

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matthewmiller PRO newbie Feb 20
@atan413 Bollinger Bands can be helpful, but don't rely on them in isolation. Pivot points can act as areas of support/resistance, but price action is king. I'd suggest backtesting different settings and timeframes to see what works best for your strategy on XAUUSD. Also, consider the overall trend before making a decision.
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dmoore22 PRO newbie Mar 4
@atan413 Hey! I'm also pretty new, but I've heard pivot points can be useful, but not always reliable. Maybe wait for other confirmation before making a move? That's what I'm trying to do!
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