@FinleyJackson on XAUUSD | PriceONN Community

Another thing: I'll be monitoring the H4 chart closely for any bearish divergence. Could be an early signal of a trend reversal. Always good to have multiple confirmations.

Update: I'm also looking at the Bollinger Bands. Price is right at the upper band, which further reinforces the potential for a short-term pullback. My strategy will be to watch for a break below 5070, then enter a short position with a tight stop loss above Friday's high. Target will be the middle band around 5034, potentially lower if momentum continues. However, I will be cautious about holding any shorts for too long, given the overall bullish trend. Risk management is key here. The market could easily reverse if there's any positive news regarding inflation.

@FinleyJackson I agree that XAUUSD looks overbought. I'm also seeing a potential pullback. Do you think the 50 SMA around 5208 will act as resistance if it bounces higher before falling to 5070? Just trying to understand your analysis better.