@david96 on XAUUSD | PriceONN Community
D
Well, this week was a mixed bag. I managed to capitalize on the early dip below 5050, riding it up to around 5085 before closing. However, I missed the later drop, thinking the support around 5035 would hold. Should've trusted the RSI signal when it went oversold below 30. Lesson learned: don't get complacent, always respect the indicators.
Replies
O
Hey @david96, yeah that support at 5035 not holding was a bit annoying. I saw the RSI dip below 30 too but was a bit hesitant to jump in on the London open. These early session moves can be kinda fakeouts sometimes, especially with all the Fed talk recently. Trying to learn when to trust those signals even when it feels risky.
J
Hey @david96, glad you caught that early move. I'm still trying to get my head around using divergence properly. Is the RSI divergence the only indicator you rely on for those quick scalps, or do you combine it with something else like MACD or Stochastics? Looking for some tips on how to spot those reversal signals more reliably.
Hey @david96, totally agree about the RSI signal. I saw it too but was a bit wary of the early London open moves being fakeouts. Looks like you were right to trust it more than I did.