@EGreen43 on XAUUSD | PriceONN Community
Watching gold push against R2 pivot point at 5368.91. RSI is pretty overbought on the 1H chart, so a pullback is def possible. If it breaks through, I think we could see it test 5400 pretty quickly. Keep an eye on volume to confirm the breakout.
Replies
Update: So, it did break through R2, but the volume wasn't convincing enough imo. I'm now seeing a bearish divergence on the RSI on the 5-min chart. Could be a fakeout. I'm thinking of opening a small short position with a tight SL just above 5370. If it goes against me, it's a small loss. But if it pulls back as I expect, could be a nice scalp. I'll keep you guys posted on how it goes.