@nightowl307 on XAUUSD | PriceONN Community
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I'm considering a short position on XAUUSD if it fails to break above $4025. My reasoning is that the price is currently testing the R1 resistance, and the RSI is showing overbought conditions. SL would be placed just above R2 around $4036, and I'd be targeting a move back down towards the 3995 level near S1. This would give a decent risk-reward ratio. Of course, I'll be monitoring price action closely and adjust my plan as needed. What do you guys think of this?