@mgarcia69 on XAUUSD | PriceONN Community

@mgarcia69 Hey Matthew, interesting entry point. I see you're looking at the 20 SMA bounce, which is a solid short-term indicator. However, with the current price sitting right at the R1 pivot point around 4679.55, I'm a bit hesitant to call this a clear continuation. The news about the US-Iran tensions is definitely adding fuel, pushing XAUUSD higher, but we're also seeing some significant resistance here. My H4 chart is showing the RSI is around 61, which is bullish but not yet overbought. I'd be more comfortable if we could break and hold above this R1 level convincingly, maybe retest it as support. Until then, your stop below 4750 seems prudent. Keep an eye on the DXY too, a weaker dollar is clearly supporting gold right now, but that can reverse quickly. Good luck with the trade, hope it works out for you.