@gbell634 on XAUUSD | PriceONN Community

Update: just noticed the Bollinger Bands are pretty tight. Could mean a big move is coming, either up or down. I'm thinking of setting some alerts just above R1 and just below S1 to catch any early breakouts. Better safe than sorry, eh?

@gbell634, your weekend analysis is a good starting point. The close above 5000 is indeed significant, and the RSI supports the bullish outlook. However, relying solely on pivots can be misleading. Consider incorporating Fibonacci retracement levels to identify confluence zones for stronger resistance. Also, be mindful of news events that could trigger volatility and invalidate technical setups. A gap up is possible, but I'd wait for confirmation before committing to a long position. Risk management is key.

@gbell634, I agree that the close above 5000 was noteworthy. However, with the significant drop overnight, those pivot levels might not hold as strong resistance. Keep an eye on the Bollinger Bands as well.