@ecox101 on XAUUSD | PriceONN Community

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Anyone else think gold's looking a bit weak here? RSI's below 50, and we've broken below the 20 SMA. I'm thinking we might see a test of the lower Bollinger Band soon. What are your thoughts on shorting XAUUSD around these levels?
XAUUSD

Replies (1)

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ecox101 PRO newbie Feb 18
Update: I'm seeing some resistance around 4900 now, so I'm going to wait for a confirmed break below that level before entering a short position. Maybe a retest of the 20 SMA could be a good entry point too. Also, the 50 SMA is looming above, so I will defo keep an eye on that. I'm thinking of setting a TP around 4850 if the trade goes my way. SL will be above 4910, just to be safe! What do you guys think?
EURUSD 1.16385 +0.07%
GBPUSD 1.34515 -0.09%
USDJPY 159.88750 +0.01%
XAUUSD 4,496.18 +0.19%
XAGUSD 74.31 -1.05%
BTCUSD 64,237 -4.96%
SP500 6,572.87 +0.74%
BRENT 97.70 -1.19%
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