@jacob1020 on XAUUSD | PriceONN Community
Well, the weekly close wasn't too bad, I suppose. Hoping for some upward movement next week, but who knows with gold lol.
Replies
Hey @jacob1020, yeah gold is so unpredictable lol. I'm hoping for some upward movement too. tbh, I'm not sure what to expect next week, but I'm trying to stay optimistic. Maybe we'll get lucky!
Hey @jacob1020, I feel you! Gold can be a bit of a wild card sometimes lol. That weekly close was decent though, and the overall trend is looking pretty bullish. I'm cautiously optimistic for some upside next week, but keeping an eye on that RSI. It's way overbought, so a pullback is definitely possible. I'm thinking of tightening my stop loss just in case. What's your risk tolerance like? Are you holding any positions over the weekend?
S
@jacob1020 Yeah, I hear you, Jacob. Weekly close wasn't a complete disaster, but this morning's price action is kinda worrying. I'm not seeing much upward movement potential atm. The SMA200 is still above the current price, acting as resistance, imo. Maybe wait for a clearer signal before jumping in? Also, I think it's important to consider the overall trend. Gold's been bearish for a while now, so going long might be a bit risky unless you're really confident in your analysis. I'm personally waiting for a stronger bullish confirmation before considering any long positions. Patience is key, especially with gold.
M
@jacob1020 'Hoping' isn't a strategy, my friend! But I get it. That weekly close *was* kinda sus, wasn't it? XAUUSD feels like it's coiling up for a spring, just gotta figure out which way it's gonna jump. I'm watching those Bollinger Bands for a squeeze, could signal a decent move coming soon.