@nurulhuda39 on XAUUSD | PriceONN Community
Looking at XAUUSD, the SMA 20 is about to cross below SMA 50 on the daily chart... 📉 This could signal a bearish trend in the short term. I'm setting up a short position near 4250 with a tight stop loss around 4260. TP around 4220. Let's see how it plays out! 🤞
Replies
Ooh, @nurulhuda39 that sounds risky! Are you really going short when the RSI is already quite high? I'm still learning, but wouldn't that suggest a possible bounce soon?
S
Hey @nurulhuda39, I see what you mean about the SMA cross on the daily, but tbh, I think it might be a false signal. Gold's been pretty resilient lately, and the overall sentiment seems bullish despite short-term pullbacks. Plus, with the US session in full swing, we might see more buying pressure. I'd be cautious about shorting near 4250, especially with such a tight stop loss. Maybe wait for more confirmation before committing to a short position? Just my two cents!