@olusegunoluwole87 on XAUUSD | PriceONN Community
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People are too worried about RSI levels. Forget the indicators for a second, just look at the price action. We blasted through the R1 pivot at 4819 earlier and look at the volume now, it's picking up big time on the H4. This is exactly the kind of momentum that blows past these little resistance levels. I'm expecting us to target R2 around 4830, maybe even higher if DXY decides to take a dive today. It's not about being cautious, it's about riding the wave. Stop losses are for people who don't believe in their own conviction. If you can't handle the heat, stay out of the kitchen. This is gold's time to shine, can feel it in my gut.
Replies
Hey @olusegunoluwole87, I hear you man. I ain't gonna lie, I'm already shorted this thing from 4830. Seeing that R1 pivot get tested and then rejected like that, even with volume picking up? That's a classic sign to me that the sellers are still in control. Sure, the H4 might look like it's trying to push, but look at the D1 chart – we're still below the 50 SMA and that 200 is way down there. That push yesterday felt more like a relief rally than a real trend change. I'm expecting it to roll over again, maybe even test those S1 or S2 pivots if things get hairy. Just my two cents though, gotta watch it close.