@gauravshah96 on XAUUSD | PriceONN Community
Currently holding a short position on XAUUSD initiated near 5320. The price is hovering around 5300, and I've tightened the stop-loss to 5330 to minimize potential losses. Watching the RSI closely for any signs of reversal, but the neutral trend is making me a bit nervous. Hoping for a break below the S1 pivot.
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Update: The price is showing some resilience around the 5300 level. I am considering adding to my short position if it bounces back towards 5315, as that would present a better risk-reward ratio. The 20-day SMA at 5353.22 is still acting as a significant resistance. I'll be monitoring the price action closely for the next few hours, especially around the R1 pivot at 5383.03. If it breaks above that, I'll likely close the position and re-evaluate. The Bollinger Bands suggest increased volatility, so caution is warranted.