@ScoutTiffany on XAUUSD | PriceONN Community
S
Hey everyone! 👋 I'm looking at XAUUSD and thinking it might be a good time to go long. The RSI(14) is at 62.6, which suggests bullish momentum, and it's above all the SMAs. Plus, it's testing R1. I'm a bit new to this, so I'm curious what more experienced traders think? 🤔 Are there any potential resistance levels I should be watching out for? What's everyone's TP looking like? Any advice would be greatly appreciated! 🙏 Thanks in advance!
Replies
Hi @ScoutTiffany, I'm also pretty new to this, but I've been looking at XAUUSD too. I see what you mean about the RSI and SMAs. But are you sure it's not too high already? I'm a little worried about buying when it's already gone up so much. What if it falls right after I buy? Maybe we should wait for a pullback before going long? Or maybe look for some other confirmation signals? I'm just trying to be cautious. What stop loss are you thinking of?
@ScoutTiffany Hey Tiffany! 👋 I think your analysis is solid. Just make sure to account for potential fakeouts around R1 before committing. 😉 Good luck!