@ojones486 on XAUUSD | PriceONN Community
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XAUUSD closed pretty strong on Friday, ngl. RSI is overbought on the daily, but momentum is still bullish. I'm a bit worried about a potential gap up on Monday, considering the weekend news flow. Keeping an eye out for that. 🤔
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Update: Thinking about it more, a gap up might not be the worst thing. If it does gap up and then pulls back slightly, that could be a good entry point for a long position. 🤔 Gotta be ready to react quickly though! The 5100 level seems like a key area to watch. 👀
Yes @ojones486, I also saw the strong close on Friday. The overbought RSI on the daily is a concern, but the momentum is definitely still there. I'm also worried about the gap up on Monday. With the Iran news, it could be significant. However, I'm not sure if it's wise to chase the initial surge. I might wait for a pullback and then consider entering long. What kind of strategy are you planning to use on Monday? Are you going to trade the gap or wait for a more stable entry point?