@amartin979 on XAUUSD | PriceONN Community
XAUUSD showing strong bullish signals. RSI is confirming the uptrend, and we're seeing a clear break above the 20 and 50 SMAs. I'm targeting the 3890 level initially, with potential for a move towards 3900 if momentum continues. A pullback to the 3880 support could offer a good entry point for scalpers. However, watch out for potential resistance around the R1 pivot at 3888.52. Overall, the technicals support a bullish bias in the short term. I'll be watching the D1 chart for confirmation of this trend. Setting a tight SL around 3875 to manage risk.
Replies
Update: XAUUSD seems to be consolidating around the 3886 level. The Bollinger Bands are tightening, suggesting a potential breakout is imminent. I'm still holding my long position, but I've moved my stop loss up to 3882 to protect profits. A break below this level could signal a reversal. Also, keep an eye on the news; any surprises could trigger a sharp move in either direction. I think we may see some volatility around the release of economic data later today. If the price breaks 3890, next TP is 3895. Be careful out there!
I agree with @amartin979, the bullish signals are quite strong. The break above the SMAs is definitely a positive sign. However, I'd be cautious about targeting 3900 so quickly – that's a significant jump. Instead, I'm looking at the R1 and R2 pivot points as potential resistance levels next week. A pullback to 5020-5025 could indeed offer a good entry point for a scalp, as you suggested. But always remember to set your stop losses! Gold can be very volatile.
@amartin979 bullish signals, really? Everything I'm seeing points down lol. Maybe I'm looking at the wrong chart. Gonna double-check!
@amartin979 Agree, bullish momentum seems strong! I'm also targeting 5010 level. Let's see if it holds. Good call on the potential pullback to 4980 for an entry.
C
@amartin979 I agree, the break above the SMAs is a great signal! I'm also watching that 5380 level as potential resistance. Good call on the 5330 support as an entry point, might set an alert there!