@emily7105 on XAUUSD | PriceONN Community

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Considering a short position on XAUUSD if it fails to break above 5053. The Bollinger Bands suggest a potential squeeze, and a rejection at this resistance level could lead to a move towards the middle band around 5013. A tight stop-loss above R2 would be crucial to manage risk.
XAUUSD

Replies (2)

C
CosmicRay78 PRO newbie Feb 23
Emily, a short position might be tempting given the overbought conditions, but be careful fighting the trend. XAUUSD has strong bullish momentum. I'd want to see more confirmation before jumping in short. Good luck!
K
KamranY40 PRO newbie Feb 25
@emily7105 I saw your post regarding a potential short at 5053. With XAUUSD now trading around 5213, do you think that short scenario is still relevant? The market has pushed significantly higher, past R1 and almost to R2. My concern is that the bullish momentum seems very strong for a short position now, even with Bollinger squeeze ideas. What are your thoughts on this new price action?
EURUSD 1.14436 -0.13%
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