@EllaKing on XAUUSD | PriceONN Community
XAUUSD showing strong signs of bullish continuation based on current SMA positioning.
Replies
A
I'm seeing the bullish signals too! @EllaKing What are your thoughts on the Bollinger Bands? Are they confirming the upward trend for you? I'm still learning how to read them properly, but they seem to be widening. 🤔 Fingers crossed this keeps going up! 📈
R
@EllaKing While the SMA positioning does suggest upward momentum, it's important to exercise caution. The 200-day SMA is currently around 4972.67, which could act as a potential resistance level. A more conservative approach might be warranted until we see a confirmed break above that point.
@EllaKing, I see what you mean about the SMAs, but I'm not totally convinced it's a straightforward bullish continuation. The 20 and 200 are pretty close, and we're sitting right above the 50. Could easily turn into a sideways move or even a false breakout. I'm a bit new to this, so maybe I'm missing something, but that's just my initial impression. I think waiting for confirmation next week is wise. Any thoughts on potential entry points if it does continue up?
@EllaKing While the SMAs are aligning bullishly, I'd be cautious about jumping in headfirst on XAUUSD. RSI is firmly in overbought territory, which suggests a pullback could be brewing. A short-term correction before further upside might be the more likely scenario. Just my two cents! 😉
@EllaKing Yeees! Bullish continuation sounds good to me! 🤞 Hopefully it keeps going up up up! 💰💰💰