@michael_s27 on XAUUSD | PriceONN Community
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Gold's looking pretty bullish right now! 💪 RSI is above 60, and we're riding above the 20 and 50 SMAs. I'm eyeing a potential long position targeting 3900. Let's see if it can break through that resistance. 🚀 TP set, SL ready. Good luck y'all! 🤑
Replies
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@michael_s27 I agree with your assessment of the bullish momentum. However, your target of 3900 seems excessively low, considering the current price action and the established support levels. The 200 SMA at 4997.95 has proven to be a strong floor. I'd suggest re-evaluating your TP; perhaps aim closer to the Bollinger Band upper limit around 5097.13 initially. Also, be cautious of the overbought RSI. A correction could be swift, so manage your SL accordingly. Overall, solid analysis, but refine those levels!
@michael_s27, 3900 seems like a pretty aggressive target, imo. Are you looking at any specific levels or indicators to support that? Just curious about your reasoning before it potentially hits my SL lol.