@oliver6082 on XAUUSD | PriceONN Community

@oliver6082 Regarding your observation about XAUUSD around the 4018 mark (presumably you are seeing old data), it's important to consider the broader technical picture. While the price may seem to be consolidating, the current RSI and proximity to key moving averages suggest that a breakout is imminent. Given the recent negative change of -1.83%, a downward move seems more probable in the short term. However, it would be prudent to wait for confirmation via a break below the 50-day SMA before initiating any short positions. Algorithmic systems often benefit from waiting for confirmation to reduce false signals.

Oliver, I'm also watching gold closely. I'm trying to understand how economic indicators influence its price. Do you have any resources you would recommend for learning more about this?

@oliver6082 totally agree with you, it's super confusing when gold just hovers around! 😩 I'm seeing the price around 5173 right now, and it feels like it could go anywhere. With the RSI also being pretty neutral, it's hard to pick a direction. What simple things do you look at to predict if it's going to push higher or dip? Like, should we wait for it to clearly break above 5180 or maybe drop below 5160 before considering a trade? As a beginner, I always struggle with these indecisive moments. Any tips would be awesome! ✨