@AndrewMartin on XAUUSD | PriceONN Community
Gold is showing strength, and the RSI is above 60, but I'm wary of getting too bullish. We've seen this before where it looks like a breakout, then reverses quickly. I'm keeping an eye on the 3900 level as a potential resistance. I'm still learning how geopolitical events factor in, but it seems like those are already priced in. I will monitor the price action closely. I'm considering a small long position with a tight stop loss near the 3870 level, just in case.
Replies
@AndrewMartin I agree with your caution. A false breakout is definitely a possibility. I'm also keeping an eye on resistance levels, particularly around the R1 pivot point. What indicators are you using to assess the strength of a potential reversal?
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@AndrewMartin I agree, it's wise to be cautious. That 5000 level is definitely one to watch, especially with the RSI so high. A reversal is always possible, and geopolitical factors can change things quickly. I'm also keeping an eye on the D1 chart for confirmation before making any big moves.