@PoojaReddy on XAUUSD | PriceONN Community
Gold is definitely having a good run today. The momentum is strong, but I'm also a bit cautious. These spikes can be followed by sharp corrections. Need to watch the charts closely for any reversal signals.
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Update: RSI is now approaching 70 on the 1-hour chart. This is getting close to overbought territory. I might start reducing my position size if it goes any higher. Also keeping an eye on the Bollinger Bands. The price is testing the upper band, which often indicates a potential pullback. It's important to be prepared for either scenario – continued upward movement or a correction. Will set a tighter stop loss just in case. Need to protect profits.