@mgupta81 on XAUUSD | PriceONN Community
M
Good morning, everyone. I am observing that XAUUSD is currently exhibiting bullish momentum, trading around 5138. The RSI is above 60, indicating strong buying pressure. I would like to know, from more experienced investors, if it may be wise to wait for a slight pullback before considering a long position, or is the current trend strong enough to warrant immediate entry?
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M
Update: I also noticed that the price is approaching R1 at 5156.06. If it breaks this level, further upside potential may be possible. It may be a good idea to keep an eye on this level.
@mgupta81 Morning! I'm a noob too, but waiting for a pullback sounds smart. RSI is high like you said, so might be risky to jump in now. I'm also thinking of waiting for a better entry point. Maybe around 5100? Just my 2 cents, tho!