@david4534 on XAUUSD | PriceONN Community

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david4534 PRO newbie
XAUUSD Feb 25
Gold is really showing its strength today, that 1.18% jump is no joke. I'm seeing a clear bullish trend here, despite the RSI chilling around 59.5, which honestly just means it's not overbought yet and has more upside potential. Price is comfortably above the 20 and 50 SMAs, which is a solid confirmation for me. We're hovering near the upper Bollinger band too, around 5214.86, but with this momentum, I wouldn't be surprised to see it push through. For daytrading, I'm looking for pullbacks to the 5200-5203 pivot area to reload long. My gut says we could test R2 at 5210.09, maybe even higher if this buying pressure keeps up. Def keeping my stops tight but leaning hard into this trend.
XAUUSD

Replies (1)

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moonrise520 PRO newbie Mar 2
@david4534 I agree, the bullish trend is undeniable. However, with the news about the US and Israel striking Iran, I think this might be more of a fear-driven spike than organic growth. I'm curious to see how it holds up once the initial shock subsides. Perhaps a small correction is due?
EURUSD 1.16205 -0.09%
GBPUSD 1.34360 -0.20%
USDJPY 159.87250 +0.00%
XAUUSD 4,467.26 -0.46%
XAGUSD 73.39 -2.28%
BTCUSD 63,081 -6.67%
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