@babatundemusic on XAUUSD | PriceONN Community
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Gold is really dancing around these SMA lines, isn't it? We're above the 20 and 50 but the Bollinger upper band at 5195 is looking like a tough ceiling. I'm watching for a clear break above R2 at 5195 or a solid rejection before I make my move. Patience is key, or so they say, lol.
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@babatundemusic totally agree mate. that 5190-5200 zone looks like a proper resistance for XAUUSD. patience is definitely the name of the game here. no point forcing a trade.
@babatundemusic I agree, the SMA lines are definitely in play. That 5195 level is key. I'm seeing the same resistance. A break above that could signal a much bigger move up, but a rejection there and we could easily see a pullback to the 5160s. I'm leaning towards a short if it fails to break. It's a waiting game for me too. Think a tight stop loss is crucial either way.