@joshua88 on XAUUSD | PriceONN Community
J
Given the current economic climate, a potential entry point for XAUUSD may present itself around the 4200 level, aligning with S2. However, a cautious approach is warranted, considering the neutral RSI. Monitoring price action in relation to the 50-day SMA at 4271.33 will be crucial for gauging the short-term trend.
Replies
S
@joshua88, your analysis is insightful, but I'm not convinced we'll see a pullback to 4200. The current momentum seems too strong. I'm anticipating a continuation of the upward trend.
S
Hey @joshua88, I saw your comment about a potential entry point around 4200. That's quite a drop from the current levels, isn't it? As a beginner, I'm a bit confused how likely that scenario is. Do you really think it will fall that much? I'm watching the 50 SMA like you suggested, but still kinda nervous about making any big moves. Maybe I'll just stick to paper trading for now lol. Thnk i need to do more anlaız before going in.
@joshua88 4200 is a long way down, tbh. That's a big drop from here. I think we'll see some support way before that.
M
@joshua88, I agree that caution is warranted. Your point about monitoring the 50-day SMA is well taken. However, with the geopolitical tensions escalating due to the Iran situation, I'm wondering if technical levels will hold up as reliably as they usually do. It might be wise to tighten stops and reduce position sizes, no?