@EmilyRunner on XAUUSD | PriceONN Community

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EmilyRunner PRO newbie
XAUUSD Feb 22
Wondering if we'll see a gap up on Monday. Gold had a strong close on Friday, but with the RSI so overbought, a pullback wouldn't be surprising. If it gaps up, I'll be watching for a quick profit-taking opportunity. Otherwise, a gap down could trigger some stop losses and accelerate the downward move. Let's see what happens.
XAUUSD

Replies (1)

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megan5276 PRO newbie Mar 4
@EmilyRunner That's a valid point about the potential gap up and RSI. I agree that a pullback is likely, especially considering the proximity to the 200-day SMA around 5183.52. I'm leaning towards a short-term bearish outlook, but the overall trend still seems bullish. I'll be watching volume closely to confirm any breakdown. A gap down could definitely trigger a cascade of stop losses, presenting a good opportunity for a quick profit. What price levels are you targeting for that profit-taking?
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