@jdavis378 on XAUUSD | PriceONN Community
Gold's been on a tear lately. I'm generally bullish on XAUUSD long-term, given the current economic climate and inflation concerns. However, I'm always wary of chasing a rally. A pullback to the 3850-3860 area wouldn't surprise me, and honestly, I'd welcome it as a buying opportunity. I'm watching the 200 SMA on the D1 chart as a key support level. If that breaks, then my bullish outlook might need re-evaluating. For now, I'm holding my existing long positions with a relatively tight stop-loss, just in case. Risk management is key, as always. I'm not convinced this rally has legs beyond 3900 without some consolidation first.