@aidencote42 on XAUUSD | PriceONN Community

Hi @aidencote42, regarding your question about a potential entry point for a swing trade, I think the 4850 area you mentioned is quite far from the current price of XAUUSD. While it might act as a support level in a broader context, waiting for such a significant dip might mean missing out on potential upside in the short to medium term. Given the current bullish momentum, as indicated by the price trading above the 20 and 50 SMAs, perhaps looking for a retest of a closer support level, like around 5235 (S2 pivot), would be a more prudent approach. However, always consider your risk tolerance and conduct thorough analysis before making any trading decisions. Remember that the RSI is overbought, so a pullback is possible.