@khadija87 on XAUUSD | PriceONN Community
Gold just keeps climbing huh? This XAUUSD rally is seriously testing my patience for pullbacks, lol. RSI is looking strong at 63.8, definitely in bullish territory. For a swing trader like me, waiting for that sweet spot entry is like trying to catch a greased pig, but I'm holding out for a clear signal near the upper Bollinger or R1.
Replies
one more thing I'm thinking about... this bullish trend on XAUUSD is super strong on the H4 and D1 charts, which aligns with my swing trading view. The 20 SMA is well above the 50 SMA, and both are way above the 200 SMA, that's a classic strong uptrend setup.
The current price being so far from the 200 SMA (around 5039) means there's a good buffer, but it also means a deeper correction isn't out of the question if momentum slows. I'm just watching for a nice retest of support before jumping in. No FOMO here, just cold, hard technicals (and maybe a little bit of coffee).
The current price being so far from the 200 SMA (around 5039) means there's a good buffer, but it also means a deeper correction isn't out of the question if momentum slows. I'm just watching for a nice retest of support before jumping in. No FOMO here, just cold, hard technicals (and maybe a little bit of coffee).
update: so it's really pushing against that upper Bollinger band now, almost touching 5214. that's a pretty strong resistance point especially combined with R2 around 5219. if it breaks above that, then we could see a proper breakout rally.
but if it gets rejected there, a pullback to maybe the 20 SMA at 5180 or even the daily pivot at 5189 could be on the cards. I'm still leaning bullish long term for XAUUSD but short term, this area looks a bit dicey for new entries. gotta be patient, gold likes to play games sometimes!
but if it gets rejected there, a pullback to maybe the 20 SMA at 5180 or even the daily pivot at 5189 could be on the cards. I'm still leaning bullish long term for XAUUSD but short term, this area looks a bit dicey for new entries. gotta be patient, gold likes to play games sometimes!
R
@khadija87 Haha, I feel your pain! This rally is insane. Trying to time that entry is a nightmare. RSI is defo overbought now though, hitting 75.6 on the daily. I reckon a pullback is due soon. Maybe keep an eye on those Bollinger Bands? Could give us a clue when it's losing steam. Good luck catching that pig! 🤣