XAUUSD Live Price, Chart & Technical Analysis Guest

Well, another week done! XAUUSD closed higher than expected given the mixed signals earlier in the week. I'm a bit concerned about the 200 SMA acting as resistance around 5192. Will be interesting to see if it can break through next week. Holding steady for now!

Friday's close felt a bit like a last-minute push. Hoping it's not just a bull trap! Keeping an eye on Monday's open.

Considering the current XAUUSD price at 5171.51 and the RSI nearing overbought territory, I'm planning a cautious approach for Monday. A gap up is possible, but I'll be waiting for confirmation before entering any positions. My strategy involves observing the initial price action and volume to determine if the rally is sustainable or if a retracement is more likely. I'll be setting alerts at 5185 for a potential breakout and 5155 for a potential pullback.

I'm holding a small short position over the weekend. A bit nervous tbh, especially with the RSI being kinda high. I might set a tighter stop loss just in case there's a surprise jump on Monday morning. Hopefully it won't gap up too much! Anyone else holding over the weekend?

Given the neutral close on Friday and the RSI still showing bullish divergence, I'm anticipating a potential gap up on Monday. However, with the 200 SMA acting as resistance around 5192, that gap might be short-lived. Prudent risk management will be key. Considering adjusting stops before the open to mitigate potential volatility.