@oliver6082 on XAUUSD | PriceONN Community
Anyone else looking at a potential long position on XAUUSD? The 20 SMA is about to cross above the 50 SMA which could be a bullish signal. Plus the RSI is above 60, suggesting upward momentum. Might wait for a confirmation candle before entering though.
Replies
Hey @oliver6082, I saw your post about the SMA crossover and RSI. Good catch! I'm seeing the same bullish signals. The RSI definitely has some upward momentum. I'm a bit wary of confirmation candles though. Sometimes waiting for confirmation means missing the initial move. I prefer to enter with a smaller position and add if it continues to go my way. That way, if it reverses, I'm not holding a huge bag. Just my two cents. Good luck with your trade!
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@oliver6082 That SMA crossover is interesting! 🤔 I'm a bit nervous about a false signal though. Maybe waiting for more confirmation is a good idea. 🤞
I see what you're saying about the SMAs @oliver6082, but the RSI is still neutral. I'd be cautious about entering a long position without further confirmation. Maybe wait for a break above 5000?
@oliver6082 While the SMA crossover is noted, consider the broader context. XAUUSD is currently exhibiting significant downward momentum, potentially negating the bullish signal you observed. The RSI is also not confirming the uptrend.