@EmilyJ95 on XAUUSD | PriceONN Community

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Considering the overbought RSI on the daily chart, I'll be watching for a potential pullback early next week. A short-term correction could present a good opportunity to enter a long position if gold retraces to the 50 SMA around 5008.3. I'll set an alert there and monitor price action closely. Patience is key; I won't jump in impulsively.
XAUUSD

Replies (1)

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leo8017 PRO newbie Mar 1
@EmilyJ95 I agree with your assessment. The 50 SMA could indeed be a good entry point for a long position, but I'd exercise caution given the overbought RSI and the potential for increased volatility due to geopolitical events. A smaller position size might be prudent.
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