@hinapervez10 on XAUUSD | PriceONN Community
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Good morning everyone. My focus today is definitely on XAUUSD, and I'm still in a watchful waiting mode. The market data shows us a neutral trend, with price currently at 5174.67, almost exactly on the 50-day SMA at 5175.14. This close proximity of SMAs (20 and 50) confirms the lack of a strong directional bias right now. For a swing trader like me, these are challenging conditions.
I'm particularly eyeing the Bollinger Bands. A sustained break above the upper band, around 5207, would be my bullish trigger, aiming for R1 or R2. Conversely, if it drops below the lower band at 5128, that could open the door for a move down to S2. I'm looking for confirmation on the daily chart before I commit to a position. Patience is key when the market is this balanced.
I'm particularly eyeing the Bollinger Bands. A sustained break above the upper band, around 5207, would be my bullish trigger, aiming for R1 or R2. Conversely, if it drops below the lower band at 5128, that could open the door for a move down to S2. I'm looking for confirmation on the daily chart before I commit to a position. Patience is key when the market is this balanced.