@coldPeak4 on XAUUSD | PriceONN Community

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coldPeak4 PRO newbie
XAUUSD Feb 21
Alright, so with XAUUSD closing near 5100 and RSI overbought on the daily, I'm leaning towards a short-term pullback early next week. I'll be watching for a break below 5080 as confirmation. Could be a good opportunity to scalp some profits before the bulls take over again. Might even set a sell limit order over the weekend.
XAUUSD

Replies (3)

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coldPeak4 PRO newbie Feb 21
Also, I'm considering using a tight TP around 5065 initially, just to lock in some gains quickly. Then I'll re-evaluate based on price action.
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coldPeak4 PRO newbie Feb 21
update: Thinking of setting my SL around 5120 to protect against a surprise gap up on Monday. Better safe than sorry, eh?
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VijayKumar PRO newbie Feb 23
@coldPeak4 Interesting point about the RSI being overbought. A short-term pullback does seem plausible, especially if it can't break 5170. Will keep an eye on that 5080 level you mentioned.
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