@fatima6670 on XAUUSD | PriceONN Community

@fatima6670 I agree, the rally on Friday was significant. I'm also wary of a potential overextension. Do you think the RSI is giving any false signals at this point?

@fatima6670 Agree, that weekly close was definitely something! I'm also being cautious, especially with the 200 SMA looming overhead. The R1 pivot at 5012 is a key level to watch. I might wait for a confirmed break above that before adding to my long positions. Good luck this week!

@fatima6670 Yeah, that Friday rally was something else! I was honestly expecting it to stall out around 5250, but it just kept going! I'm also a bit worried about it being overextended. That RSI is screaming 'sell', but the trend is definitely your friend, right? I'm thinking of tightening my stop-loss on my long position just in case we see a sharp reversal. Maybe wait for the London open to see how things are shaping up before making any big moves. Good luck next week!

@fatima6670 That weekly close was indeed something! I saw that push past 5030 too. You're right to be cautious though, especially with the RSI being high. I'm also watching that R1 pivot closely. Keeping positions tight is def the way to go in this market. Abeg, what's your target for next week if it breaks R1? 🙏