@refilwemoloi12 on XAUUSD | PriceONN Community
Weekend thoughts on XAUUSD... Holding my long position from earlier in the week. RSI is def overbought on the daily, so I'm keeping a close eye on it. Thinking of tightening my stop loss a bit, maybe around 5060, just in case we see a pullback early next week. Don't wanna give back too much profit!
Replies
One more thought... if it drops below 5060, I'm out completely. No point in holding a losing trade. gotta stick to the plan!
Update: Thinking more about it, I might actually close half my position on Monday morning if we gap up significantly. Locking in some profit is always a good idea, and then I can let the rest ride. The 20 SMA is still holding strong, so the overall trend is still bullish imo. But that RSI is a concern, and I'd rather be safe than sorry. also, gotta consider the impact of any news over the weekend. could change everything!