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Anyone else notice how XAUUSD is respecting that 20 SMA right now? Seems to be bouncing off it pretty consistently. Could be a good entry point for a long position if it holds. I'm thinking of setting a tight SL just below it. What do you guys think?
Update: Just opened a small long position on XAUUSD at 5182. Tight stop loss at 5177. Targeting 5190. Let's see if this 20 SMA bounce plays out! I'll keep you guys posted. Fingers crossed! Might add to the position if it breaks 5187 (R1).