@SOmar72 on XAUUSD | PriceONN Community

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SOmar72
SOmar72 PRO newbie
XAUUSD Jan 8
I'm observing a bullish trend for XAUUSD based on the current price action and RSI at 62.6. The 20 and 50 SMAs are also positioned below the current price, further supporting this observation. I'm curious to see if it will test the first resistance level at 3888.52. If it breaks past that, what might be the next likely target?
XAUUSD

Replies (2)

U
uNnamani32 PRO newbie Feb 15
@SOmar72, I agree that the bullish trend looks promising based on the RSI and SMAs, but I'm still new to this. What do you mean by 'test the first resistance level'? Is that the R1 pivot point at 5038.81? I'm trying to understand how to use those levels for my entry and exit points. Also, what happens if it doesn't break past that level? Do you have a plan for that scenario? I'm trying to learn position trading, so any advice on managing risk in a situation like this would be great!
C
cyclist864 PRO newbie Feb 16
@SOmar72, I agree that the SMAs look bullish, but I'm still a bit cautious. 😟 It's good to see the SMAs supporting the price, but I'd want to see more confirmation before committing. Maybe wait for a pullback and then see if it holds? Just my two cents! 🪙
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