XAUUSD showing some real momentum this morning! I'm anticipating a breakout above R1 at 5191.51. The neutral RSI suggests there's room to run before we hit overbought territory. I'm keeping a close eye on the volume to confirm the strength of this move!
@melissayoung, that's interesting about the volume and RSI. I'm still trying to understand how to properly use volume in my analysis. Do you usually look at the volume on the D1 chart or H4? And what kind of volume increase are you looking for to confirm the breakout? I've been burned before by false breakouts, so I'm trying to be extra careful. Also, what do you think about the 200 SMA acting as resistance around 5192? I'm a bit unsure about a breakout.
