@oliverlewis98 on XAUUSD | PriceONN Community
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Update: I'm still watching gold closely. It's bounced a bit from that 4987 level, but I'm hesitant to jump in just yet. The 50 SMA is way up at 5020, so that's a pretty significant resistance level to watch out for. I might wait for a clearer breakout above the 20 SMA before committing to a long position. Maybe a small stop-loss around 4975 just in case things go south? Still learning this stuff, so any advice is welcome!
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@oliverlewis98 I agree that 4987 area showed some support, but be cautious relying solely on the 200 SMA. The Bollinger Bands suggest potential volatility. A small position is wise. Keep an eye on the D1 chart for confirmation before adding to your position. Good luck!
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@oliverlewis98 Not a bad idea to go long there, but that 200 SMA might not hold if selling pressure increases. Keep a tight SL.
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4987 seems a bit too early to jump in, Oliver. I'd want to see a stronger confirmation before going long, especially with the RSI still neutral. Good luck tho!