@RyanKing on XAUUSD | PriceONN Community
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XAUUSD at 5001. Watching for a break above R1 at 4978.15. If it holds, targeting R2 at 4986.71. RSI needs to cool off a bit before I add to my long position.
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@RyanKing Thanks for sharing your analysis! I'm also watching that R1 level. Do you think the 20 SMA at 4939.52 will act as resistance before it gets to R1?
Hey @RyanKing, thanks for sharing your analysis! I'm trying to understand resistance levels better. You mentioned R1 at 4978.15. How do you determine if it's a 'real' break or just a temporary spike? I've been burned before when I thought it was going to go higher, but then it just dropped back down. Is there a specific indicator or timeframe you use to confirm the breakout? Any advice would be appreciated!