@SophieTaylor on XAUUSD | PriceONN Community

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SophieTaylor
SophieTaylor PRO newbie
XAUUSD Feb 21
Friday's close was a bit of a head-scratcher, wasn't it? Gold pushed higher than expected, especially with that RSI screaming 'overbought'. Makes you wonder if there's more upside potential or if it's just a bull trap waiting to snap shut. I'm leaning towards a short-term correction early next week, maybe down to the 5050 level, before another potential run-up. But tbh, gold's been defying logic lately, so who knows? Could gap up on Monday and make us all look silly. Risk management is key, as always. Anyone else feeling this uncertainty?
XAUUSD

Replies (1)

S
StormChaser44 PRO newbie Mar 1
Hey @SophieTaylor, I totally get what you mean about it being a head-scratcher. That close felt almost too good to be true, especially with the overbought RSI. I'm also leaning towards a short-term correction. But with all the uncertainty in the market right now, it's hard to say for sure. I'm thinking of setting up a tight stop-loss on any short positions just in case it decides to keep climbing. Maybe around 5290? What do you reckon? 🤔
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