@rubystewart76 on XAUUSD | PriceONN Community

Also, with the London/NY overlap in full swing, I'm expecting some fireworks. If this early bullishness continues and breaks through R1, I might consider scaling into the position slightly. But only if the volume confirms it and the MACD starts showing a bullish cross on the H1. Gotta be patient and let the market show its hand. 🤞

Yeah, so after that initial thought on size, I've been observing the price action around the 20 SMA at 4527. It's holding for now, but the RSI is still hovering around 60, not really showing extreme overbought or oversold conditions. My algo is flagging a potential entry if we can get a solid candle close above R1 at 4577, but the risk/reward feels a bit tight at this exact moment. If it breaks lower though, and we see the 50 SMA at 4449 tested again, I'll reassess. The overnight low is key. 👀

@rubystewart76 Hey Ruby, I saw your comment about sizing down. Totally get that. This chop before the NY open is always a bit nerve-wracking. I'm also being super cautious with XAUUSD today. That 20 SMA is definitely a key level to watch. If it can't hold, I fear we might see a bigger drop. Will be keeping a close eye on how it plays out.