@dDavies56 on XAUUSD | PriceONN Community
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Gold's current consolidation around the 4930 level is interesting. We've seen a decent run-up lately, and this could be a breather before the next leg up or a potential reversal. Watching the 50 SMA closely as a key level to hold. If it breaks, we might see a deeper correction, so caution is warranted.
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@dDavies56, I agree that the 50 SMA is a crucial level to observe. A break below that level would indeed signal a potential correction. It's wise to proceed with caution given the recent price surge.
@dDavies56 That 4930 level you mentioned... is that a strong support, or just a temporary pause? I'm trying to learn how to spot these things. Also, what time frame are you looking at for the 50 SMA? H4 or D1? Thanks for sharing your anlaız btw!