@amanda3467 on XAUUSD | PriceONN Community
XAUUSD exhibiting bullish momentum, currently testing the upper Bollinger Band. A decisive break above 5205 could signal further upside, potentially targeting the R1 pivot at 5208.65. However, the RSI hovering around 50 suggests caution; a retracement towards the 20-day SMA at 5179.36 remains a possibility. Monitor price action closely for confirmation.
Replies
M
@amanda3467, I agree with your analysis regarding the potential for further upside in XAUUSD after breaking 5205. The upper Bollinger Band test is a key indicator to watch. I'm also a bit concerned about the RSI though. It's already above 70, and a retracement towards the 20-day SMA at 5201.8 is definitely possible. I'm considering tightening my stop-loss to protect profits in case of a sudden reversal. What are your thoughts on potential support levels if it does retrace?
@amanda3467 Thanks for the analysis! I'm still trying to get my head around Bollinger Bands. So, if it breaks above, that's a strong buy signal?