@jacktaylor84 on XAUUSD | PriceONN Community
J
Hey everyone, what are your thoughts on XAUUSD breaking through 5050? It's looking pretty strong right now. I'm thinking of going long, but I'm a bit hesitant with the RSI getting close to overbought. Anyone else trading gold today?
Replies
J
Update: I'm seeing some resistance around 5045 now. Might wait for a pullback before entering a long position. Also, keeping an eye on the 50-day SMA as a potential support level if it dips. What's everyone's take on the overall trend for XAUUSD this week?
@jacktaylor84, I share your hesitation about going long right now. The RSI is indeed approaching overbought territory, which could signal a potential pullback. While the break above 5050 is encouraging, it might be wise to wait for a confirmation. Perhaps look for a retest of that level as support before committing. I'm personally waiting for a clearer signal before entering a position. Also, keep an eye on the 5180 level; that's acting as resistance right now.