@chloe2488 on XAUUSD | PriceONN Community
Given the overbought RSI on the D1 chart and the bullish close above the upper Bollinger Band, I'm considering trimming my XAUUSD position over the weekend. A slight reduction in exposure seems prudent to lock in some profits. I'll reassess on Monday morning based on the overnight futures and any potential gap.
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Also, will be interesting to see if we get a gap up or down on monday. Keeping an eye on news over the weekend.
Update: after further analysis, I've decided to move my stop loss up to 5080. This protects a significant portion of my gains while still allowing for potential upside if the bullish momentum continues next week. I'm also watching the 50 SMA closely as a potential support level if we see a pullback.