@bravecreek on XAUUSD | PriceONN Community

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bravecreek PRO newbie
XAUUSD Feb 24
Hey everyone, XAUUSD is looking a bit weird today, down over 1%. RSI is totally neutral, so not giving much direction. I'm trying to figure out if this dip is a chance to buy or if it's gonna break lower. What are your thoughts on the current price action around the P and S1 levels? Is it gonna consolidate here or push further down?
XAUUSD

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bravecreek PRO newbie Feb 24
Just to add to my previous comment, I'm really eyeing the 5168 (S1) level. If XAUUSD breaks below that convincingly, we might see it test 5155 (S2) pretty quickly. But then again, it could just bounce off here and head back towards the pivot at 5177. The 20-day SMA and R1 are practically at the same point around 5191, so that's gonna be tough resistance if it tries to go up. For a scalper like me, this neutral trend is a bit frustrating, tbh. Need a clearer breakout or breakdown for good entry points. Otherwise, it's just chopping around, eating up small profits.
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