@riftzone818 on XAUUSD | PriceONN Community
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Right, so gold had a pretty strong week, didn't it? Up over 2%... Overbought RSI though, that's got me a bit worried. I'm thinking we might see a bit of a pullback early next week before it decides what to do. Hoping it stays bullish overall though!
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update: Thinking about setting a tighter SL just in case of a big drop on Monday. Don't want to lose all the gains from this week!
Hi @riftzone818, I agree that the overbought RSI is a bit concerning. It's like the market's had too much caffeine and needs to chill out for a bit. A pullback might be healthy in the long run to consolidate those gains. I'm also hoping for continued bullishness, but I think patience will be key here. Maybe scale in slowly instead of jumping in all at once? Just a thought!