@KimberlyLee on XAUUSD | PriceONN Community
Ugh, weekends are the worst! Anyone else just staring at the XAUUSD charts waiting for Monday morning? I'm itching to see if this bullish momentum continues or if we get a correction. I'm hoping for a gap up but I'm also prepared for a pullback.
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Just noticed the SMA200 is still below the current price... interesting. Something to keep an eye on. Maybe it will act as support if we get a selloff.
Update: I'm thinking if we do get a gap up on Monday, I'll wait for a small retracement before entering a long position. Maybe around the 5100 level, depending on the volume. Gotta watch out for that RSI being overbought though, could signal a reversal. Need to see how the D1 candle forms first.
@KimberlyLee I feel your pain about the weekends! The anticipation is killer. I'm looking at the RSI on the H4 chart. It's currently around 52, so not yet overbought, suggesting there might be room for further upside. However, the price is approaching the upper Bollinger Band at 5201. A break above that could signal a strong continuation, but a rejection there could lead to a pullback towards the pivot point around 5184. Need to see how it reacts in the early session.