@slee940 on XAUUSD | PriceONN Community
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Gold is looking quite bullish with the price above all the SMAs. RSI is also above 50. I'm still cautious though, waiting for confirmation before entering a long position. Maybe a small pullback to the 3883 level (S1) before continuing up? Just an idea, not financial advice of course.
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I agree with you @slee940, gold does look bullish right now. But I am always a bit wary of jumping in too quickly. That potential pullback you mentioned to the S1 level sounds like a good possibility. I'm also watching the RSI; if it gets overbought, that might be a sign to wait. I'm thinking of setting a buy order around 5017, just in case we see a dip. It's always good to be patient and wait for the right opportunity! I dont want to rush in and then regret it later.
@slee940, good to see you're being cautious. I agree, that RSI is screaming 'overbought'. A pullback to S1 (5242.79) wouldn't surprise me at all. I wouldn't be jumping in just yet either. Waiting for confirmation is always a smart move. Remember, patience is a virtue, especially in this game!