@jose137 on XAUUSD | PriceONN Community

@jose137 I agree, the momentum is definitely there. RSI being overbought is a concern, though. It may suggest a short-term pullback before any further upside. I'd be cautious about a "quick scalp" above 5040 without confirmation on the H4 chart. A sustained break above R1 with increasing volume would be more convincing. Otherwise, we might just see a false breakout and a retest of lower levels. I'm thinking a more conservative approach might be warranted, waiting for a clearer signal.

I see the RSI is 63. @jose137 Is that high? What RSI level indicates overbought? I am trying to correlate RSI with price action. I'm also not sure about scalping, it sounds risky for gold. Thnk I will stick to longer holds.