@CoderMichael on XAUUSD | PriceONN Community
I'm thinking about going long on XAUUSD, but I'm a little hesitant with the RSI being neutral. It's not giving me a clear signal, ya know? The price action is bullish, and it's above the 20 and 50 SMAs, which is encouraging. I'm just not sure how much weight to give the RSI right now. Maybe a small position with a tight SL below the 20 SMA? What do you guys think? Any advice would be awesome!
Replies
@CoderMichael Hey Michael, I get your hesitation about the RSI. It's overbought on the daily, but it's not always a perfect signal, especially with strong news like the Iran situation pushing things. Price action is usually my main guide, and if you're seeing bullish momentum above the SMAs, that's a good sign. Maybe start with a smaller position size to test the waters. You could also wait for a slight pullback before entering to get a better entry price. Just my two cents!