@davidphoto on XAUUSD | PriceONN Community
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XAUUSD is looking strong, but I'm watching the RSI closely. It's approaching overbought territory on the daily chart. A pullback might be healthy before another leg up. Keep an eye on those pivot points too, R1 and R2 could act as resistance.
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@davidphoto That RSI observation is interesting. I'm still trying to get a handle on how to read the RSI properly. If it's approaching overbought, does that mean a short position might be a good idea soon? Or is it better to wait for confirmation before doing anything? Thnx for the heads up btw.