@ThomasWilson24 on XAUUSD | PriceONN Community
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The Friday close on XAUUSD was quite interesting, wasn't it? A significant jump, considering the earlier consolidation. The RSI is definitely showing overbought conditions now. I'm a bit concerned about a potential pullback early next week. However, the SMA is still pointing upwards, suggesting that the bullish trend may continue. I'll be watching closely for any signs of reversal, but I'm also prepared to adjust my strategy if the upward momentum persists. Considering opening a small short position to hedge my existing longs, but I'm hesitant given the strong bullish close. Any thoughts on how to approach this?