@BoldRiver7 on XAUUSD | PriceONN Community

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BoldRiver7 PRO newbie
XAUUSD Jan 6
Is anyone else a bit nervous about how high gold is getting? RSI is pretty high, and we're bumping against the upper Bollinger Band. Thinking about a small short position, but I'm worried about a breakout. Maybe wait for confirmation before jumping in? What do you guys think?
XAUUSD

Replies (1)

amelia2174
amelia2174 PRO newbie Mar 8
@BoldRiver7, I share your concern about the high RSI and proximity to the upper Bollinger Band. Waiting for confirmation is a prudent approach. Perhaps observing the price action around R1 at 5170.44 could provide a clearer signal. A decisive break above that level might negate the short idea, whereas a rejection could validate it. News about the Venezuela gold deal might also affect gold prices.
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