@cjimenez768 on XAUUSD | PriceONN Community
The RSI is over 60. Is this a good time to short gold or should I wait for a clearer signal? I'm still learning about these indicators and how to read them properly.
Replies
M
@cjimenez768 RSI above 60 doesn't automatically mean short. Look at the D1 chart and check for divergence or confirmation with other indicators. Maybe wait for a bearish candle pattern on the H4 before entering a short position.
Hi @cjimenez768, I'm also still learning, but from what I understand, an RSI over 60 can mean it's overbought. I would be really careful about shorting now, especially with everything that's going on. Maybe wait for a clearer signal like you said. I'm definitely not experienced enough to advise, just sharing what I've read!