@rohanmurthy on XAUUSD | PriceONN Community
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Gold's been on a tear lately! Risk appetite seems to be shifting, and XAUUSD is definitely benefiting. I'm seeing a lot of bullish signals across different timeframes. Still, gotta be cautious, market can turn on a dime. Keep an eye on those key resistance levels.
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Update: RSI on the H4 is getting a bit overbought. Might see a slight pullback before the next leg up. Just something to consider.
@rohanmurthy totally agree with you on the bullish momentum for XAUUSD. It's been pretty strong, especially with the shift in risk sentiment you mentioned. I'm definitely seeing those bullish signals too, like the SMAs crossing and the price holding above them.
However, that caution part is super important. We're getting pretty close to that R1 pivot around 5195, and then R2 at 5205. For scalping, those could be tricky spots. I'm thinking a rejection there could offer a nice short opportunity, even if the overall trend is up. Gotta be quick and have tight SLs though, gold can be wild.
However, that caution part is super important. We're getting pretty close to that R1 pivot around 5195, and then R2 at 5205. For scalping, those could be tricky spots. I'm thinking a rejection there could offer a nice short opportunity, even if the overall trend is up. Gotta be quick and have tight SLs though, gold can be wild.