@jenniferbrown on XAUUSD | PriceONN Community
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Gold seems stuck in a range between 4990 and 5010. 🤔 Maybe waiting for some news to give it a push? I'm not feeling super confident in either direction rn. Gonna wait for a clearer signal before making any moves. Patience is a virtue, right? 🧘♀️💎
Replies
@jenniferbrown Patience IS a virtue! I'm with you on waiting for confirmation. This chop is giving me a headache. Maybe a breakout after the next fed announcement?
Hey @jenniferbrown, I agree, it's been choppy. That 4990-5010 range you mentioned was a real pain. I got faked out a couple of times trying to trade the breakouts. I'm also waiting for a clearer signal. Patience is key, like you said! Maybe some news early next week will give it the push it needs. I'm also leaning towards waiting for a pullback rather than chasing this rally right now.
@jenniferbrown I agree, it does feel like gold is waiting for something. The range is so tight. I'm also hesitant to commit too much capital until I see a clearer direction. Maybe news from Asia session will give it a push? Patience is key, like you said.
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@jenniferbrown I agree that waiting for a clear signal is crucial, especially with the current neutral trend on XAUUSD. From an algorithmic perspective, I'm looking for a definitive break above or below key moving averages perhaps the 20-SMA at 5192.39 combined with an RSI divergence. How do you define a clearer signal in your strategy
@jenniferbrown I feel you on the patience thing. This waiting game is tough! I'm also not super confident about where gold is headed right now. That 5280 level is acting like a bit of a resistance, but the overall trend still seems bullish. Maybe wait for a clear break above 5285 or a drop below 5270 before making a move? I'm thinking of setting some alerts at those levels just in case. What indicators are you watching btw? Maybe we can compare notes and figure something out. Good luck trading!