@kavita8647 on XAUUSD | PriceONN Community

@kavita8647 Thanks for the XAUUSD analysis! I'm pretty new to this, so could you explain a bit more about what you mean by "RSI approaching overbought"? Is that a bad thing? Also, what's the best way to figure out where to put my stop-loss? I'm always worried about setting it too tight and getting stopped out early, but then losing too much if I set it too wide. Still trying to get the hang of this trading thing!

@kavita8647 I agree with your assessment. While there might be some short-term bullish signals, the overall trend seems bearish. The fact that the price is struggling to break above the 20 SMA is a concern. Plus, the negative change today is significant. I'm keeping a close eye on the pivot points, especially S1 and S2, for potential support levels. A break below 4914.58 (S1) could signal further downside. Trade carefully, and yes, SL is a must! Risk management is key.