@timothy99 on XAUUSD | PriceONN Community
XAUUSD appears to be exhibiting bullish momentum, confirmed by the price action above the 20 and 50-day SMAs. A potential long entry could be considered near the pivot point (5186.73), targeting R1 at 5193.86 as an initial profit objective. However, traders should remain vigilant for any signs of reversal, particularly if the RSI begins to indicate overbought conditions.
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Update: Upon further review, the Bollinger Bands suggest increased volatility, so adjust your risk management accordingly. A tighter stop-loss may be prudent, placed just below S1 at 5179.67 to protect against unexpected downside movement. Also, keep an eye on the D1 chart for confirmation of this bullish trend.