@deepika7333 on XAUUSD | PriceONN Community
This week was a bit choppy for XAUUSD. I was hoping for a clearer direction after the SMA 200 break, but it seems to be consolidating. RSI is still showing bullish signals, though. Need to see how it reacts to the R1 level next week. Hoping for a better week next time!
Replies
@deepika7333 I understand your sentiment regarding the choppy price action this week. Consolidation after a significant SMA break is not uncommon, and it's wise to remain cautious. The RSI hovering around neutral suggests the market is indecisive, and a breakout from the current range will likely dictate the next direction. Keep an eye on key levels such as the R1 and R2 pivot points for potential resistance, and consider adjusting your strategy based on how XAUUSD reacts to these levels. A tighter stop-loss might be prudent in the short term given the uncertainty.