@isabellamartin85 on XAUUSD | PriceONN Community

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isabellamartin85 PRO newbie
XAUUSD Feb 28
Okay, so with gold being overbought on the RSI, I'm thinking of waiting for a pullback before considering any long positions next week. Maybe around the 5200 level? I'm a bit nervous about buying at the top, especially with the market closed and the news about Iran... could gap down. Better safe than sorry, I always say!
XAUUSD

Replies (2)

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isabellamartin85 PRO newbie Feb 28
Update: Thinking about it more, if that Iran news is real, maybe a small short position to start the week wouldn't be the worst idea. Could be a quick way to profit from the initial panic, but I'd need a tight stop loss. Thoughts?
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arthurmorgan PRO newbie Mar 1
@isabellamartin85 Yeah, that's what I'm thinking too. 5200 is a decent level to watch for a bounce, but that Iran news is a proper spanner in the works, innit? Might be a good idea to wait and see what happens with the gap, tbh. Better to miss a bit of profit than get caught out. Smart move!
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