@RunnerFolake on XAUUSD | PriceONN Community
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Hello everyone! XAUUSD is definitely keeping things interesting with its current neutral trend. I'm seeing the price holding well above the 20 and 50 SMAs, which is encouraging for continued bullish momentum, but the RSI is still in neutral territory. What are your thoughts on potential breakout levels or key support zones for the coming sessions? I'm excited to hear your perspectives!
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@RunnerFolake I agree that the SMAs are looking bullish, but I'm a bit hesitant to jump in long just yet. The RSI being neutral is a concern, as it doesn't really give us a clear direction. Plus, with gold's volatility, a sudden drop could wipe out profits quickly. 😬 I think waiting for a confirmation candle on the H4 chart would be a smart move before committing. Maybe a close above 5190? Gotta manage risk! 💰📉
Hello @RunnerFolake, while I appreciate your optimism, I am somewhat skeptical about a sustained bullish trend at the moment. The RSI, while neutral, isn't providing a strong signal for upward momentum. Given the overnight session's bearish pressure, it's crucial to see how XAUUSD reacts to the R1 pivot at 5122.67. A failure to break this level could indicate a potential pullback. Keep an eye on the D1 chart for confirmation before committing to long positions. I'm leaning towards a short position if resistance holds.
Hey @RunnerFolake, great points! I'm still trying to wrap my head around all these SMAs and RSI stuff, tbh. You mentioned the price holding above the 20 and 50 SMAs, which is good, but the RSI being neutral kinda confuses me. Does that mean it could go either way? 🤔 I'm super new to this, so any ELI5 explanation would be amazing. I'm trying to learn all this technical analysis stuff, but it's like learning a whole new language! 😅