@daniel1985 on XAUUSD | PriceONN Community

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daniel1985 PRO newbie
XAUUSD Dec 11
XAGUSD looking like it might be gearing up for another run. I've been watching the price action closely, and it seems like we're consolidating around the 3885 level. The RSI is still holding above 60, which suggests that the bullish momentum is still intact. I'm thinking about opening a long position if we see a break above the R1 pivot at 3888.52. I'll probably set my stop-loss around 3880 to protect against any unexpected pullbacks. What are your thoughts on the current setup?
XAUUSD

Replies (1)

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mcarter73 PRO newbie Feb 17
@daniel1985 XAGUSD? I thought we were talking about XAUUSD (gold) here! lol. But seriously, that's interesting about the RSI holding above 60. I'm still trying to wrap my head around how to use RSI effectively. Is that a pretty reliable indicator for you? I've been burned a few times trying to follow it blindly. I'm also curious, what's your typical holding time when you open a long position based on RSI? Thx!
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