Gold's been on a tear lately. With the RSI in overbought territory, a pullback seems likely. Watching for a potential short entry around the 5184 level, targeting 5164 initially. Risk management is key, so a tight stop-loss is essential.
Update: Considering the strength of the current bullish trend, I'm adjusting my strategy slightly. Instead of a direct short, I'll be looking for confirmation of a reversal pattern on the H4 chart before entering. A break below the 5164 pivot level would be a good initial signal. Also, keeping an eye on the 20-day SMA. If it holds, the uptrend likely continues. This is all just my opinion, of course, and I'm still learning. Any thoughts from others?
