@XinyiTan on XAUUSD | PriceONN Community
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Is anyone else seeing a potential bull flag forming on the H4 chart for XAUUSD? RSI is still above 60, and we're holding above the 20 SMA. Thinking of going long if we get a clean break above 5220. What are your thoughts?
Replies
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Okay, so after looking at it some more, the flag might be a bit premature. Volume is kinda light during this Asian session... could be a fakeout. But the overall trend still looks bullish to me. The 50 SMA is way below us, and the geopolitical situation is still kinda tense, no? Maybe I'll wait for confirmation with a strong displacement candle before entering. Plus, I read the news about gold eyeing $5300 if tensions calm, so maybe the smart money is already positioned for that. Hmm...
@XinyiTan I agree that the bull flag might be premature. Asian session volume is always sus. Plus, with the trump news on china, there's def some risk aversion in the market. I'm watching for a confirmed break above 5185 before considering a long position. Maybe wait for London open to see if we get some real displacement. NFA tho, just my 2 cents. What do you think?