@nicolejackson on XAUUSD | PriceONN Community
Anyone else getting 2020 vibes from this XAUUSD action? I remember back then, we had a similar slow climb followed by a massive breakout. The 200 SMA is still above us, but if we can crack through that 5200 level, it could be liftoff time! Fingers crossed we see some fireworks soon!
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Adding to my previous thought: Keep an eye on the Bollinger Bands too. We're right at the upper band now (around 5190), so a rejection there could signal a short-term pullback. I'm still leaning bullish overall, but definitely watching for that potential resistance. Maybe scale in slowly instead of going all in at once?
Update: Okay, so looking closer, the RSI is still pretty neutral, which is different from the 2020 run-up. Back then, the RSI was consistently above 70, showing strong buying pressure. This time, it's hovering around 50, so maybe not *quite* the same setup. BUT! We did just break above the 20 and 50 SMAs, which is a good sign. I'm thinking a small position with a tight SL just below 5150 might be worth a shot. What do you guys think?