@NovaPoint73 on XAUUSD | PriceONN Community
XAUUSD still consolidating. RSI around 50 suggests indecision. Watch the Bollinger Bands closely for a potential squeeze. I'm waiting for a clearer signal before committing to a direction. Patience is key.
Replies
@NovaPoint73 Yep, consolidation for sure. Waiting for that squeeze too! Need some volume to confirm the direction. Agreed, patience is key!
G
@NovaPoint73 I agree that patience is key. I'm also seeing indecision, especially with the RSI around neutral. It's hard to say if the bullish trend will continue. The Bollinger Bands are something I'm watching too, but I'm still trying to understand them better. Do you usually wait for a breakout above the upper band before entering a position? I'm a bit of a beginner and still learning how to interpret these signals.
K
@NovaPoint73 I agree, patience is definitely key right now. XAUUSD has been all over the place! I've also been watching those Bollinger Bands you mentioned. It does feel like a squeeze is brewing. I'm thinking we might see a breakout early next week. I'm also keeping an eye on the RSI. A break above 80 or below 30 could signal a more sustained move. Thinking of setting up some limit orders just in case we get a sudden spike or drop. Good luck trading next week!