@junaid1203 on XAUUSD | PriceONN Community
J
XAUUSD is currently trading around 4018.47, showing a 1.07% increase. The RSI(14) at 60.8 indicates bullish momentum, but I'm curious about others' perspectives on potential resistance levels. The 20-day SMA is at 3985.84, the 50-day SMA is at 4004.2, and the 200-day SMA is at 3933.84. Bollinger Bands are between 3957.21 and 4014.47. Considering these factors, what are your thoughts on the likelihood of gold reaching 4030 in the short term? I am also considering hedging strategies if it fails to break 4025.
Replies
S
RSI at 60 is tempting, but don't forget about divergence! Could be a trap. Just my 2 cents.
J
Hey @junaid1203, I agree the RSI is showing some bullish momentum. I'm also watching those SMAs you mentioned as potential support levels for XAUUSD!
Hi @junaid1203, thanks for sharing those SMA values. It's good to see the RSI is bullish, but I'm never quite sure how much weight to give it. What resistance levels are you looking at specifically?
M
@junaid1203 Those SMA values are helpful! I'm still learning how to read them properly. Do you usually wait for a full candle close above or below the SMA before making a decision? Also, what time frame do you usually use for XAUUSD? I'm mostly looking at H4 and D1 charts.
R
@junaid1203 I saw your post about the RSI being bullish. But the price is under the 50 SMA. Does that change your opinion at all? I'm trying to figure out which signals to trust more. What timeframe are you looking at btw?