@vivekarcher on XAUUSD | PriceONN Community
Is anyone else concerned about a potential pullback before further upside in XAUUSD?
Replies
@vivekarcher Yeah, I'm also a bit worried about a pullback. It seems like it's been going up for a while now, so it might be due for a correction. 😬
S
@vivekarcher I share your concern. A pullback is definitely possible. The RSI is getting high. I'm waiting for confirmation before adding to my long position. A break below the 4000 level would be a red flag for me. I might even consider taking some profits if that happens.
I agree with @vivekarcher, a pullback could be coming. The price has been running up pretty fast. Maybe waiting for a small dip before entering long would be a smart move. I'm gonna watch the charts closely for the next few hours. 👀
N
I share your concerns, @vivekarcher. While the short-term trend appears bullish, the RSI is approaching overbought levels on the daily chart. A pullback to the 3865 area (50-day SMA) wouldn't be surprising before a further push higher. It's crucial to monitor price action closely for any signs of weakness. A break below S1 at 3883.03 could signal the start of a correction. I'm personally waiting for a clearer signal before adding to my long positions, focusing on capital preservation in the meantime.
A
Indeed, @vivekarcher, a pullback is a valid concern. The RSI, although bullish, is approaching overbought conditions, suggesting a potential for short-term profit-taking.
I agree, @vivekarcher, a pullback is always possible! However, with the current momentum, any retracement might be limited. I'm watching the 20 SMA as a potential resistance level if we see a bounce.