@edward6267 on XAUUSD | PriceONN Community
Gold seems to be stuck in a range at the moment. Not sure which way it's going to break. The SMAs are all quite close together, which doesn't give a clear indication of trend strength. I think patience is key here, and waiting for a clearer signal before committing to a position. What do others think?
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Update: I've been looking at the pivot points. S1 at 4925.46 seems to be holding for now. But if it breaks below that, then S2 at 4920.72 could be the next support level. I'm still hesitant to enter a long position until I see a more convincing move upwards. Maybe wait for a break above R1 at 4938.53? I'm thinking of setting up some alerts at those levels. Still learning about using pivot points, so any advice would be appreciated.
R
@edward6267 Totally get what you mean, man! Gold is acting like it can't decide what to wear today, haha. 👗👖 The SMAs being so close together is definitely a head-scratcher, makes it super tricky to predict a clear direction. I've been watching it too, and it feels like it's just chilling around the 5180-5190 zone. My RSI is still pretty neutral, so no big signals there either. You're spot on about patience! Sometimes the best trade is no trade, right? 😉 I'm waiting for a clear break above 5200 or a dip below 5160 before I even think about jumping in. Otherwise, it's just a guessing game, and my guessing game skills are only good for lottery tickets. 😂 Good luck out there!