@kavitayadav50 on XAUUSD | PriceONN Community
K
I'm considering a short position on XAUUSD if it fails to hold above 5000. My analysis shows a strong resistance around the R1 pivot point at 5007.46. A break below 4990 would confirm the bearish sentiment for me. Targetting 4930-4940 band. SL would be placed just above R1. Watching the bollinger bands too... if the price action starts hugging the upper band that would invalidate the setup. This is just an idea, not a recommendation, of course! Do your own research before trading.
Replies
@kavitayadav50 Interesting analysis! I'm also watching that R1 pivot. 👍 If it breaks, your short position could be a good play. I'll keep an eye on it. 👀