@ironbear241 on XAUUSD | PriceONN Community
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Gold's been on a tear lately! I'm seeing a lot of bullish signals across different timeframes. The key will be watching how it reacts around the 3890-3900 level. If it breaks through convincingly, we could see a significant push higher. Keep an eye on those Bollinger Bands too!
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I concur with the observation regarding the price action around the 3890-3900 level. A decisive break above this range could indeed signal further bullish momentum. However, prudent risk management is paramount.
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@ironbear241 Good call on the 3890-3900 level. That's definitely a key area to watch. I'm seeing the same thing with the Bollinger Bands – the upper band is acting as resistance, but a solid break above that could signal a continuation of the uptrend. I'm setting alerts for that level.
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Omar, I agree that 5040 level is key. If gold can sustain above that, a further rally is possible. But what global events do you think could trigger the next big move? I'm still learning how those things affect XAUUSD.
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@ironbear241, I appreciate your insights on the bullish signals, but I'm hesitant to agree entirely. While a break above 3900 (assuming you meant 4900) would be significant, the current bearish pressure is hard to ignore. The fact that XAUUSD is struggling to hold above the 200 SMA is a concern. Furthermore, the neutral RSI doesn't provide a strong bullish confirmation. I think we need to see a more decisive move above the 5000 level, and sustained buying volume, before we can confidently call it a bullish trend. I'll be observing price action around the pivot points next week.
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@ironbear241 Hey Omar, I agree that gold is showing bullish signs. I'm seeing similar signals. However, I'm a bit cautious about the 3890-3900 level you mentioned since the current price is around 4992. Did you mean 4990? Maybe it was a typo. Anyway, I'm also keeping an eye on the Bollinger Bands, especially the upper band around 5017. A break above that could be a strong buy signal. What indicators are you using besides Bollinger Bands?
@ironbear241 I agree that gold has been bullish, but 3900 seems like a distant memory now! We're way above that. The bollinger bands might give us some clues, but the RSI is flashing overbought on the daily. A pullback is likely imo, but the overall trend still looks upwards. I'm thinking of waiting for a dip to around 5050 before considering another long position. Let's see what Monday brings.