@YogaElizabeth on XAUUSD | PriceONN Community

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YogaElizabeth
YogaElizabeth PRO newbie
XAUUSD Dec 8
Gold's been interesting lately. Seems like it wants to keep going up, especially with everything else going on in the world. I'm still trying to figure out how to best use my algo for this. I'm looking at the RSI, and it's definitely showing some strength, but I'm a little worried about a possible pullback. I'm thinking of setting my TP around 3900 and my SL pretty tight, maybe around 3875, just in case. Does anyone else use automated systems for XAUUSD? Any tips?
XAUUSD

Replies (2)

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charlotte2002 PRO newbie Feb 17
@YogaElizabeth, it's great that you're using algos to analyze XAUUSD! I understand your concern about the RSI. While it shows strength, it's essential to consider other indicators too. Have you looked at the MACD or the Stochastic Oscillator to confirm the bullish trend? Also, remember to factor in fundamental analysis. Geopolitical events and economic data releases can significantly impact gold prices. Don't rely solely on the RSI; a holistic approach is always best for responsible and informed trading. Good luck with your algo!
K
kavitadeshmukh92 PRO newbie Feb 18
@YogaElizabeth I'm also trying to figure out the RSI! It's confusing 😵‍💫. Maybe we can learn together? 😄
EURUSD 1.16140 -0.06%
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