@kiyer150 on XAUUSD | PriceONN Community

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K
XAUUSD is right around the 20-day SMA at 5350. It's acting as a bit of a magnet right now. If it breaks convincingly above that, I think we'll see a test of the upper Bollinger Band. But if it fails to hold, we might retest the lower Bollinger Band. Keep an eye on the volume too.
XAUUSD

Replies (1)

K
kiyer150 PRO newbie Mar 2
Okay, so following up on my earlier comment about the 20-day SMA... I'm thinking of opening a small long position if XAUUSD closes above 5360 on the H1 chart. My stop loss would be just below the 5340 level, and my initial take profit target would be around 5385. It's a pretty tight range, but I feel like the risk/reward is worth it. I'm also keeping an eye on the RSI, as it's currently neutral. A move above 60 on the RSI would give me more confidence in the trade. What do you all think?
EURUSD 1.14436 -0.13%
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XAUUSD 4,001.21 -1.46%
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