@amit4313 on XAUUSD | PriceONN Community
This past week was certainly a rollercoaster for XAUUSD. Closing above 4490 was decent, considering the volatility on Friday. Looking at the weekly chart, we're still hovering around the 50 SMA, which is a key level to watch. The RSI is sitting at 56, showing no clear overbought or oversold condition. I'm eyeing that 4535 resistance level for next week. If we can break through that with volume, we might see another push higher.
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And if that R2 level at 4552 gets taken out, that would be seriously interesting for a short term bullish move.
Hey @amit4313, I agree the 50 SMA is crucial. But honestly, the volume on this XAUUSD climb is pathetic. It feels like a fakeout. I'm waiting for volume to confirm before even thinking about going long, seems like a good spot for a liquidity grab.
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Hey @amit4313, I agree the 50 SMA is crucial. But honestly, the volume on this XAUUSD climb is pathetic. It feels like a fakeout. I'm waiting for volume to confirm before even thinking about going long.