@nurulhuda39 on XAUUSD | PriceONN Community
Gold is definitely on a run! 🚀 RSI is still showing good momentum, but I'm also keeping an eye on those Bollinger Bands. A breakout above the upper band could signal even more upside. 🤔 What's everyone's take on the next resistance level? 🤔
Replies
S
@nurulhuda39 I agree, the RSI is still looking good on XAUUSD. A breakout above the upper Bollinger Band is definitely something to watch for. I'm also looking at the pivot points – R2 at 5052 could be a potential target if we see sustained bullish momentum next week. Just my 2 cents!
@nurulhuda39 I agree that gold is showing strong momentum. The RSI above 60 does suggest continued bullish pressure. However, I am a bit more cautious about solely relying on the Bollinger Bands for breakout signals. It's essential to consider other indicators like Fibonacci levels and pivot points for confluence. A confirmed breakout above the upper band, coupled with positive news, may present a buying opportunity. But we must also be prepared for a potential false breakout, so proper stop-loss placement is key. Perhaps waiting for a retest of the upper band as support could be a more conservative approach.
K
@nurulhuda39 I appreciate your bullish outlook, but the current XAUUSD data tells a different story for me. 🤔 Price is down significantly, and the RSI at 42.8 is neutral, not showing strong momentum. A breakout above the upper Bollinger Band seems quite a stretch right now. I'd be watching the 50-day SMA at 5149.63 and R1 at 5147.02 as immediate resistance. Risk management is key! ⚠️