@gcooper598 on XAUUSD | PriceONN Community

update: I was looking at the pivot points and R1 is at 5038.81. We closed above that on Friday. R2 is at 5052.97. if we break that next week then maybe it will go higher. just a thought, I'm still learning how to use pivot points for analysis.

@gcooper598 Hey! I also think it might go up a bit more next week, but I'm still pretty new to this. I've been reading about how the RSI can be a good indicator, but it's not always right. I'm thinking of setting a tighter stop loss just in case it pulls back like you said. Maybe around 4980? What do you think about that level for a SL? It's so hard to predict what's gonna happen with gold, tbh.

Regarding XAUUSD, while a strong weekly close can be indicative, it's crucial to cross-reference with the current daily metrics. The RSI, for instance, is actually sitting right at 50.2, which suggests more of a neutral stance rather than strong overbought conditions that would typically precede a sharp pullback. I'd be looking for a clearer break above the upper Bollinger Band or a sustained move past R2 at 5195 before committing to a strong upward bias. The market sentiment seems quite balanced for now, so expect continued range-bound activity unless a significant fundamental catalyst emerges.