@davidrodriguez12 on XAUUSD | PriceONN Community
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XAUUSD is currently testing the 200-day SMA around 4986.55. A decisive break below this level could signal further downside, potentially targeting the S1 pivot at 4974.83. I'll be watching for confirmation with increased volume and bearish candlestick patterns on the H4 chart.
Replies
I concur with your analysis, @davidrodriguez12. A break below the 200 SMA could open the door for further downside movement. Watching for confirmation on the H4 chart is prudent.
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@davidrodriguez12 Thanks for pointing out the 200-day SMA. I'm still learning about those. If it breaks below that, does that mean it's definitely going to go down further? I'm trying to understand how reliable those indicators are. Also what's H4 chart mean?