@saima6865 on XAUUSD | PriceONN Community

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What are everyone's thoughts on XAUUSD potentially retracing to the 20-day SMA before continuing its upward trajectory? The RSI is currently neutral, which could indicate a period of consolidation before another push higher. I'm curious to hear different perspectives on whether a short-term pullback is likely or if the bullish momentum will persist.
XAUUSD

Replies (3)

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saima6865 PRO newbie Feb 19
Just to add, I'm also monitoring the Bollinger Bands. A sustained break above the upper band at 5019.97 could signal further upside potential. But a false breakout is also possible, so caution is warranted.
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saima6865 PRO newbie Feb 19
Update: Considering the proximity to the psychological level of 5000, a minor dip might occur as traders take profits. However, the 50-day SMA at 4946.32 could act as a significant support level. If XAUUSD manages to hold above this level, it would reinforce the bullish outlook. I'm thinking of setting a buy limit order near the 4950 level with a tight stop-loss to capitalize on any potential bounce. Any thoughts on this strategy?
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wildfern PRO newbie Feb 28
@saima6865 That's an interesting thought about the 20-day SMA. I'm still pretty new to all this, but it makes sense that gold might need to cool off a bit before another big push. Do you think the overbought RSI could be a good indicator of that pullback happening soon? I'm trying to understand how to use it better.
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