Gold appears to be trading near the upper Bollinger Band. Given the overbought RSI, is a short-term correction likely? I'm new to this, but it seems like a possible scenario to consider. I'm trying to understand how to interpret these signals effectively.
@christopher_b73, I saw your post about the Bollinger Bands and RSI. Honestly, I'm also trying to figure out how to use them effectively. I thought the overbought RSI meant a short was coming, but it just kept going up before this crash. It's confusing. Maybe waiting for confirmation with candlestick patterns is better? I'm not sure. This XAUUSD drop is making me question everything I thought I knew. Maybe look at multiple timeframes, like H4 and D1, for a clearer picture? I'm still learning too.
