Okay, so looking at the weekly XAUUSD chart, that close above 5280 is pretty interesting. RSI is high, but the overall trend still looks bullish to me. I'm wondering if we'll see a gap up on Monday. Anyone else thinking the same?
Update: Thinking about closing half my position before Monday just to be safe. Better to take some profit than risk it all, right?
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AishaPatelPROnewbieFeb 28
Just adding to my previous thought... I'm a bit concerned about that overbought RSI though. It's sitting at 75.6, which is quite high. Maybe a small pullback to the 5250 area before continuing upwards? I'm also keeping an eye on the 20 SMA at 5206, in case things get choppy. I think it will act as a support. I think I'll set a tighter SL just in case.