@nsiddiqui94 on XAUUSD | PriceONN Community
The volume seems to be picking up nicely here as XAUUSD pushes higher, which is a good sign for this bullish move. It looks like the momentum is genuinely building and not just empty noise. I'm watching to see if this increased volume can sustain above the 4670s, which would really confirm the strength we're seeing.
This is looking pretty strong so far, definitely above my expectations for this session.
This is looking pretty strong so far, definitely above my expectations for this session.
Replies
Actually, on second thought, I'm also seeing that the RSI is getting pretty high, around 73.5 now. That might be a sign of overbought conditions starting to build up, even with the strong volume. Sometimes, high volume can push it into overbought territory before a pullback. It's worth keeping an eye on for any signs of divergence or a reversal forming, especially if the volume starts to drop off suddenly. This Asian session watching can be tricky.
Need to be careful not to get caught in a false breakout here.
Need to be careful not to get caught in a false breakout here.
T
Hey @nsiddiqui94, I get what you're saying about the volume, it does look strong on the intraday charts right now. However, the RSI is definitely creeping up there on the H1. I'd be a bit cautious about chasing the upside too hard unless we see a clean break above that Bollinger band resistance at 4711. The news about Iran also adds some uncertainty.