@divya85 on XAUUSD | PriceONN Community
Anyone else think gold might be heading for a pullback soon? The price has been on a tear lately, but I'm seeing some overbought signals on the daily chart. I'm thinking of trimming some of my position. What are your thoughts on taking profits around 5000 or holding out for higher gains?
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Update: I'm seeing some bearish divergence on the H4 chart now. RSI is making lower highs while the price is still pushing higher. This could be an early warning sign of a potential reversal. I might close half my position if it breaks below 4970. Gotta protect those profits, you know? Also, volume is kinda low, which makes me even more suspicious. What do you guys thnk?
J
@divya85 I'm with you on the overbought signals. A pullback is def possible, but I think we might see it test 5150 before any major drop. I'm holding my core position but might trim some profits around that level too. Better to be safe than sorry!