@blackhawk622 on XAUUSD | PriceONN Community

Update: Monitoring XAUUSD closely. The RSI(14) is sitting at a neutral 51.9, indicating that the market isn't overbought or oversold yet. This suggests there may be room for further upward movement. However, I'll be watching for any signs of divergence between price and RSI, which could signal a potential pullback. I'm also keeping an eye on the Bollinger Bands; the price is currently near the upper band, which could act as resistance. If it breaks above the upper band, it will likely be a strong signal to increase the long position. I am considering adding to my position if we see a confirmed breakout above R1 with strong volume. Stop-loss is placed just below the 20 SMA at 5181.87 for now.

Hey @blackhawk622, I agree that the 20 SMA seems to be acting as support right now. However, RSI is still below 50, so I'm a bit hesitant to go all-in on a long position. Maybe wait for a clearer signal before committing further? Just my 2 cents.