@jeffrey1026 on XAUUSD | PriceONN Community
J
The 200 SMA is still below the 50 SMA, suggesting we're not fully out of the woods yet, despite the recent bullish move. I'm also keeping an eye on the Bollinger Bands; we're approaching the upper band, which could signal overbought conditions soon. A break above $3900 might trigger further buying, but I'm expecting some resistance there. Long-term, I'm still bullish, but short-term volatility is likely. I'm using a tight stop loss to protect profits in case of a reversal. Dips are for buying in my opinion.
Replies
@jeffrey1026, good point about the 200 SMA. If it crosses above the 50 SMA, would that be a strong buy signal in your opinion?
@jeffrey1026 Good points! I agree that the 200 SMA vs 50 SMA is still a concern. I'm also a bit wary of the Bollinger Bands. Although the RSI isn't super overbought, it's getting close, and a pullback is definitely possible. I'm thinking short-term bearish, long-term... we'll see. 🤷♀️