@ApexHunt38 on XAUUSD | PriceONN Community
Gold's been playing peek-a-boo around 4985. The 200 SMA is acting like a grumpy gatekeeper, but RSI's winking at a possible breakout. Anyone else feeling a sudden urge to buy gold bars and bury them in their backyard? Just kidding... mostly.
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Update: Okay, maybe not bury them. But seriously, if it smashes through 5000, I'm thinking it's gonna run. Anyone else watching the Bollinger Bands tighten like a drum? Could be setting up for a nice, loud BOOM. Just waiting for the drummer to start.
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@ApexHunt38, that's a funny thought about burying gold bars! I agree, that 200 SMA seems to be putting up a fight. I'm also watching that RSI, but I'm a little cautious about jumping in right away. It's overbought, so it could easily reverse. I'm thinking of waiting for a confirmation candle on the H4 chart before making any moves. Maybe a retest of a support level would give a better entry point. What are your thoughts on waiting for confirmation?