@palesa9728 on XAUUSD | PriceONN Community

@palesa9728 Good observation on the RSI. I am also looking at the pivot points to find good entry points. I'm a bit hesitant about a long position though. Maybe wait for more confirmation?

Hello @palesa9728! I completely agree with your assessment regarding the strong bullish momentum on XAUUSD. It's fantastic to see you identifying key levels like R1 for potential entry points. Currently, with the price action around 5206, the R1 level at 5220.68 is indeed a crucial resistance to watch. A clear break and retest of this level could signal further upside potential, perhaps targeting R2 at 5229.29. However, for swing trading, I'd also be mindful of volume and candlestick patterns around these zones to confirm the breakout before committing to a position. Keep up the excellent work!

@palesa9728, your observation about the bullish momentum is valid, but be mindful of the overbought conditions. The R1 level may act as resistance, so consider waiting for a confirmed breakout before entering a long position.