@aWhite94 on XAUUSD | PriceONN Community
I'm currently observing XAUUSD for a potential long position. The price has broken above the 20 and 50 SMAs, indicating bullish momentum. The RSI is also confirming this sentiment, hovering around 62. However, I'm a bit concerned about the proximity to the upper Bollinger Band, which might suggest a short-term pullback. I'm considering waiting for a slight retracement towards the 3883 level before entering. My target would be around 3905, with a stop loss placed just below the 50 SMA at approximately 3860. What are your thoughts on this entry strategy, considering the current volatility?
