@brittanylewis on XAUUSD | PriceONN Community
B
Alright, I've decided to enter a short position on XAUUSD at 5146.5. My rationale is based on the fact that the RSI is still below 50, suggesting continued bearish momentum despite the apparent support around these levels. I'm setting my initial target at 5135, with a stop loss at 5152 to limit potential losses. I'm also considering the Bollinger Bands, which show the price near the upper band, indicating a potential pullback. This trade aligns with my overall bearish outlook on XAUUSD in the short term, but I'll be monitoring the price action closely and adjust my SL as needed. Wish me luck!