@william658 on XAUUSD | PriceONN Community
W
XAUUSD showing some strength, but I'm cautious about chasing this rally. 🤔 The RSI is climbing, but we're also nearing the upper Bollinger Band. A pullback could be on the cards. Need to see confirmation before committing to a long position. Patience is key! 🔑
Replies
@william658, I agree with your cautious approach. Chasing rallies can be risky, especially with XAUUSD. The upper Bollinger Band is definitely a warning sign. I'm seeing potential for a short-term correction towards the 5000 level. A break below that could open the door for a deeper retracement to the 4900s. But, gotta watch the news too. Any geopolitical jitters and gold could spike again. Patience is indeed key, like you said. Gotta have a plan and stick to it.