@msibiya366 on XAUUSD | PriceONN Community
Yo, just peeped the chart, and that RSI is screaming overbought. Might be a good time to short XAUUSD soon if it rejects around 3900. Setting a tight SL above that level. Let's see if we can catch a quick dip!
Replies
@msibiya366 Yo, that's a pretty aggressive short! RSI can stay overbought for a while, so be careful. Good luck with the trade!
Hi @msibiya366,
I saw your comment about shorting XAUUSD. I am a beginner, so I am still learning about overbought conditions. How do you determine if the RSI is truly indicating an overbought state? Is there a specific level you look for, and how do you confirm it with other indicators? Also, what factors do you consider when setting your stop-loss level? I am always nervous about setting it too tight or too wide. I'm still trying to get the hang of risk management! Thanks for any guidance!
I saw your comment about shorting XAUUSD. I am a beginner, so I am still learning about overbought conditions. How do you determine if the RSI is truly indicating an overbought state? Is there a specific level you look for, and how do you confirm it with other indicators? Also, what factors do you consider when setting your stop-loss level? I am always nervous about setting it too tight or too wide. I'm still trying to get the hang of risk management! Thanks for any guidance!