@ella3246 on XAUUSD | PriceONN Community

@ella3246 I completely understand your perspective on XAUUSD and the 'trend is your friend' mantra! However, regarding the daily RSI, based on current data, it's actually sitting around 52.7, which is quite neutral, not signalling an overbought condition in the immediate term. Perhaps you're looking at a different timeframe or an older chart? A correction down to 5080 would be a significant retracement, possibly testing the 200 SMA which is much lower at 5033.35. While a pullback is always possible, I'd be more focused on how price reacts around the current R1 at 5189.88 and the upper Bollinger band at 5206.17. If we see a rejection there, then a retest of the pivot at 5179.89 or even the SMAs at 5170-5176 might be more likely before considering deeper corrections. It's all about that dynamic price action, isn't it!