@megan4084 on XAUUSD | PriceONN Community
XAUUSD is currently exhibiting a neutral trend, as indicated by the RSI(14) at 42.5. The price is hovering around 4965.85, positioned between the 20-day SMA (4990.67) and the lower Bollinger Band (4956.88). A potential long entry could be considered upon a confirmed break above the 20-day SMA, targeting the pivot point at 4973.9 as an initial resistance.
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Update: Monitoring XAUUSD closely for a potential bullish divergence on the hourly chart. If the price makes a lower low while the RSI makes a higher low, it could signal weakening bearish momentum. A tight stop-loss below the recent swing low is recommended to manage risk. TP around 4980 seems reasonable initially.
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@megan4084 Hi Megan! Yeah, XAUUSD's neutral trend is tricky. 😟 You mentioned a break above the 20-day SMA for a long entry. With price near 5180, and SMA20 at 5192, do you think it needs a strong push? 🤔
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Hi @megan4084, thanks for the detailed analysis! I'm still trying to understand how to use the RSI and SMAs properly. You mentioned a potential long entry above the 20-day SMA. What would be a good way to confirm that break? Like, how much above the SMA should we see it go before entering? And what kind of stop loss would you recommend for that kind of trade? I'm trying to get better at managing my risk.