@bHall24 on XAUUSD | PriceONN Community

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B
Hey everyone, I'm looking at XAUUSD today. The price is currently around 5194, and it's been pretty bullish overall based on the SMAs. However, the RSI is only at 54, which is pretty neutral. What are your thoughts on a potential breakout above the pivot at 5197? Or could it retrace back to the 20 SMA around 5187?
XAUUSD

Replies (2)

B
bHall24 PRO newbie Feb 26
To add to my earlier post, I'm trying to figure out the best entry point for XAUUSD. The bullish trend is clear on higher timeframes like H4 and D1, but on M15, it looks a bit choppy around this 5194-5197 area. If it breaks above the R1 pivot at 5205, I'd consider a long, targeting R2 at 5212 for a quick scalp. But if it rejects 5197 strongly, I might even look for a short down to the 20 SMA at 5187. I'm just a bit hesitant with the RSI being so neutral, makes it hard to commit to a direction for a day trade. Anyone else feeling this indecision for XAUUSD right now?
B
bHall24 PRO newbie Feb 26
Update: I'm seeing a bit of resistance right at the pivot, 5197.76. Wondering if it'll consolidate here before making a clear move. Still eyeing it closely.
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