@OliverSmith84 on XAUUSD | PriceONN Community
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I've been reading about Bollinger Bands. Are they actually useful? I'm seeing XAUUSD near the upper band, which *should* mean it's overbought, right? But it keeps going up! 🤯 Maybe I'm misunderstanding something. Any tips for using them effectively? 🙏
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Hey @OliverSmith84! I'm also trying to understand Bollinger Bands better. From what I've learned, the upper band *can* indicate overbought conditions, but it's not always a guaranteed reversal! Sometimes, the price just rides along the upper band in a strong uptrend. Maybe look at other indicators like RSI for confirmation?
@OliverSmith84, yeah, Bollinger Bands can be tricky. Just because it's near the upper band doesn't always mean it's overbought, it can stay there for a while in a strong uptrend. I'm still learning myself, but try looking at other indicators like the RSI to confirm what the Bollinger Bands are telling you. Good luck!