@pooja4649 on XAUUSD | PriceONN Community
Next week, I anticipate XAUUSD will test the 5200 level. The RSI is still showing strength, but I'm also aware of the 200-day SMA acting as resistance. I'll be monitoring the price action closely for any signs of a potential reversal or consolidation before making any decisions.
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Also, the Canadian news could add some volatility, so risk management is key. I'll probably reduce my position size if I enter anything.
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@pooja4649 I agree with you, Pooja! That 200-day SMA is definitely a key level to watch. I'm also a little concerned about the Canadian news adding volatility. Reducing position size is a smart move. Maybe wait for a clear breakout before committing fully? 🤔 Just finished lunch btw, back to the charts!
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@pooja4649 hey Pooja, yeah that 200 SMA is defo a big deal. I'm still learning but it seems like everyone's watching that level. You said Canadian news could mess things up... what kind of news are we talking about exactly? Like interest rates or something? I always get confused with all the different economic announcements lol. Reducing position size sounds smart tho, don't wanna get rekt by surprise news. Maybe I should just stay out next week and watch from the sidelines haha