@ericsailor on XAUUSD | PriceONN Community
Okay, let's break down this XAUUSD action. We're clearly in bullish territory, RSI confirming the upward move, but I'm keeping an eye on that R2 pivot around 5041. A break above that could signal a further run, but watch for a potential pullback. The 20 and 50 SMAs providing decent support now, so those are key levels to watch on any dips. I'm thinking a small long position with a tight stop below the 20 SMA might be a reasonable play. Trade smart, everyone. Remember, gold can be a fickle friend.
Replies
@ericsailor Agree on the bullish territory. I'm also watching that R2 pivot. However, the RSI is pretty overbought on the D1 chart. Could signal a potential correction before any further upside.