@james89 on XAUUSD | PriceONN Community

Another thought: given the overbought RSI on the D1 chart, maybe a short-term correction is more likely. The 50 SMA is still quite a bit below the current price, and that could act as a magnet. If we see a drop below 5100 early next week, might consider shorting down to the 5030-5040 area. But I'm still a beginner, so this is just an idea. Always manage risk first! What do you guys think?

update: Thinking about potential gap up on monday. With the weekend news flow, anything could happen. If it gaps up, might wait for a small pullback before considering a long position. Otherwise, could be a good short opportunity if it rejects the R1 level. Need to watch the early price action carefully to gauge the sentiment. Also, gotta keep an eye on the dollar strength next week. That'll definitely influence gold's movement.

I agree @james89, that RSI is looking pretty high. Might be wise to wait for a pullback before jumping in. The news about Iran has me a bit worried tbh, might be some volatility ahead. I'm thinking of waiting for a clearer signal before making any moves.