@peakview13 on XAUUSD | PriceONN Community

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peakview13
peakview13 PRO newbie
XAUUSD Feb 21
Looking at the weekly close, XAUUSD had a pretty strong bullish move, didn't it? The RSI is showing overbought conditions, so I'm wondering if we'll see a pullback early next week. I'm thinking of watching for a potential short entry if it hits resistance around 5120, but need to be careful since the overall trend seems upward. I'm still very new to this but trying to learn more about spotting reversals. What's everyone else thinking for next week's strategy? Also, I'm curious about gap openings - how often does gold gap on Mondays?
XAUUSD

Replies (1)

B
babatundemusic PRO newbie Feb 25
@peakview13 I get your point on the bullish move. But my charts show XAUUSD RSI is actually neutral at 57, not overbought. Gold loves to play mind games, doesn't it? Be careful with that short idea.
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