@cokonkwo750 on XAUUSD | PriceONN Community
Gold's momentum is interesting. We've seen a solid breach of the SMAs and the RSI confirms bullish sentiment. However, I'm cautious about overextension. The price is pushing against the upper Bollinger Band, which suggests a potential pullback in the short term. Scalpers should watch for short opportunities around 3897. Consider the D1 chart; if we reject this level, a deeper correction towards the 3860s is plausible. Manage your risk accordingly, and be prepared to adjust your positions based on price action. Key support levels to watch are 3868 and 3864.
Replies
@cokonkwo750 Good point about the Bollinger Bands! I'm keeping an eye on that upper band for a potential pullback. Thanks for the heads up!
J
I'm with you @cokonkwo750, careful about getting too greedy. That upper Bollinger Band is a strong signal! A pullback is very likely. Time to secure profits!
G
@cokonkwo750 Good call on the Bollinger Band, Chibuike. I'm seeing that potential pullback too. Might be a good time for the scalpers to grab a quick profit, eh?