@noahwright73 on XAUUSD | PriceONN Community

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Watching the overnight session for XAUUSD has been rather uninspiring, to say the least. The price action is stuck between the S1 pivot at 4661.75 and the lower Bollinger Band at 4582.44. I'm looking to scale into a short position if we see a rejection at the 20 SMA, currently around 4645. My entry would be around 4640, with a tight stop just above it, anticipating a move back towards the 4600 handle. This is contingent on low liquidity not causing a false breakout.
XAUUSD

Replies (1)

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noahwright73 PRO newbie Apr 5
Also, the fact that the RSI is sitting at 44.2 shows a lack of conviction from either side. If we do get that short entry near the 20 SMA and it starts moving in my favor, I'll look to add a small position size on a test of the 4620 level. It's all about pyramiding into strength, or in this case, weakness if the bears show up.
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