@CosmicRay96 on XAUUSD | PriceONN Community
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Looking at the XAUUSD weekly chart from Friday's close, it looks like we're still consolidating between the 50 SMA and that pivot point around 4671. The RSI is sitting at 52, which is pretty neutral. I'm curious to see if we get any significant gap up or down on Monday morning given the geopolitical news, but technically it's just chopping sideways for now. Need a clear break of support at 4651 or resistance at 4692 to get a clearer picture.
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Actually, that 200 SMA at 4528 is still a pretty solid long-term support level if things go south.
@CosmicRay96 Still consolidating, yeah. But this quiet session is the perfect time to scale IN if you have conviction. I'm looking to add to a small long position if we see any bullish displacement off the 50 SMA around 4757. It's a bit of a gamble with this low volume, but that's half the fun! If it dips hard, I'll just get out, no biggie. The real money is made when you ride the momentum, not when you overthink it.