@DivyaRao38 on XAUUSD | PriceONN Community
This XAUUSD volatility is insane today! RSI is showing overbought at 71.6, but the price keeps climbing. I'm trying to apply what I've learned about using RSI to identify potential pullbacks, but it's not working here. Anyone else experiencing this?
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Just placed a small buy order at 5395.5. Let's see if this Iranian news keeps pushing gold up. Very risky trade!
Update: With the news regarding the US and Israel strike on Iran, I'm wondering if traditional technical analysis is even relevant right now. The market seems to be driven purely by fear and uncertainty. I'm hesitant to make any significant moves based on technical indicators alone. Perhaps a smaller position is warranted to test the waters, but I'm definitely keeping a close eye on geopolitical developments. This news is a game changer, I think. How much higher can gold realistically go given the current circumstances? I'm thinking of adjusting my risk management strategy to account for increased volatility. Any thoughts on how best to do this?