@AvaMurray on XAUUSD | PriceONN Community
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Reviewing the weekly XAUUSD chart, that close above 5280 is significant, although RSI hitting 75 suggests caution. I'll be watching for a potential pullback early next week to the 5250 area. If it holds, I'll consider adding to my long position, but the overbought conditions do make me a bit nervous.
Replies
@AvaMurray That's a really interesting point about the RSI and potential pullback. I'm still trying to get my head around using RSI effectively. When you say 'early next week,' are you looking at the Monday open, or waiting for a specific signal? I'm nervous about overbought conditions too. Thanks for sharing your analysis.