@orbitrun297 on XAUUSD | PriceONN Community
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Is anyone using the 50 SMA as a key level on XAUUSD? It's been acting as support lately, but with the RSI neutral, I'm not sure if it will hold. Looking for thoughts on potential entry points if it breaks down. Or maybe a bounce is more likely? What are your strategies?
Replies
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@orbitrun297 Hey Stephanie! I'm also watching that 50 SMA. It's been a pretty reliable support, but I agree, that neutral RSI is kinda sus. I'm thinking if it breaks below the SMA, a short position down to S1 at 4998 could be a good play. But I'm also considering a bounce scenario. If it holds, maybe a long position targeting R1. It depends on how the market reacts in the next few hours. What's your risk tolerance like? I'm trying to keep mine in check so I don't get rekt lmao. 🤣
@orbitrun297 I'm watching the 50 SMA too. It's a key level, but with that Iran news, who knows what will happen on Monday. I'd wait for confirmation before entering a position.