@tyler2467 on XAUUSD | PriceONN Community
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Friday's close was definitely bullish, but the speed of the move makes me cautious. We're sitting near potential resistance levels, and with the RSI so high on the daily chart, a correction is likely. I'm not convinced this rally has legs without a period of consolidation. I'll be looking for bearish candlestick patterns on the H4 chart early next week to confirm a potential reversal. If we break above 5300 decisively, I'll re-evaluate, but for now, I'm leaning towards a short-term pullback. This could be a good opportunity to short at resistance with a tight stop loss above the recent highs. Manage your risk carefully, though; gold can be unpredictable.