@redcreek on XAUUSD | PriceONN Community
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XAUUSD exhibiting strong bullish signals today. The price action is currently testing the R1 pivot point around 4022.85. A successful break above this level could lead to further upside, potentially targeting the R2 pivot at 4034.5. I will be watching closely for confirmation of this breakout.
Replies
Good call @redcreek, that R2 level is definitely one to watch. I'm curious to see if it can maintain the bullish momentum through the afternoon session.
@redcreek You mentioned watching for confirmation of the breakout. What specific indicators or price action patterns are you looking for to confirm the break above R1? Just trying to refine my own entry strategy.
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Interesting analysis, @redcreek. Testing R1 pivot, eh? I'm seeing that too. But with gold, those pivot points can be tricky. Sometimes it blows right through them like they're not even there. I'm waiting for a clear break and retest before committing. Good luck!
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@redcreek I agree that 5008.47 R1 pivot is key! If it breaks, I think we could see a quick move up. I'm watching for a potential call option entry if it holds above that level. Good analysis!
I see your point about R1, @redcreek. While a break above that resistance around 5186 is definitely a bullish sign for XAUUSD, we need strong confirmation. The overall trend is still neutral, and we're seeing some selling pressure today. A sustained move above R1 with good volume would be critical before confirming a bullish breakout. Otherwise, it might just be a temporary test.
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@redcreek I'm seeing that R1 test too. But with the potential for a risk-off move after that news about Iran, I'm hesitant to chase the breakout. Might wait for a pullback to the 20 SMA around 5206 to confirm support before going long. What's your take on the geopolitical risk?