Looking at today’s GOLD, is there anyone who feels, “The RSI is too high to buy now”? I feel the same. That’s why today I’m leaning toward waiting for a pullback. I’ve organized the basis for that.

This article is the personal analysis of an individual and does not recommend or solicit investment. Please make trading decisions at your own responsibility.

Today’s Market Situation

The current price is around $4,724. Looking at the 15M chart, EMA20 (short-term moving average) is at $4,710, EMA75 at $4,703, both rising, indicating continued short-term upside momentum. RSI (an indicator showing overbought/oversold) is at 70.61, reaching the overbought level, so chasing buying from here requires some caution.

On the 1H chart, EMA20 ($4,705) remains above EMA75 ($4,700) and EMA200 ($4,678), maintaining an upward sequence with a bullish overall direction. The upper band of the BB sits near $4,733, and the current price is in the upper half of the band.

In short, the uptrend is continuing, but in the short term there is an overbought feel, so a moment to wait for a pullback is present.

Gogo Taro’s Perspective

This article is the personal analysis of an individual and does not recommend or solicit investment. Please make trading decisions at your own responsibility.

Since the 1H EMA is in an ascending sequence and RSI remains above 50, I still see a buy-favorable bias today.

If a pullback comes toward around $4,705–$4,695, I think the 1H EMA75 could act as support. This is the zone I’m watching.

On the other hand, if the BB upper around $4,733 cannot be clearly broken upward, a range-bound consolidation could continue. If so, I won’t chase aggressively and will wait for the next opportunity. The fact that the 15M RSI staying above 70 is honestly a bit concerning. In the past I’ve entered due to emotion in similar situations, thinking “I don’t want to miss the run,” only to end up catching a top. That’s why I’ve decided to confirm the pullback before acting.

Today’s Reference Lines

※This is not an entry recommendation. The following are educational reference values. Please make actual trading decisions on your own.

Because the 15M RSI continues to rise, a pullback buying is considered valid. However, due to overbought conditions, it’s important not to rush to the zone.

Long (pullback buy) Reference zone: $4,695–$4,705 (Basis: 1H EMA75) Reference take-profit line: $4,770 Reference stop-loss line: $4,680 Expected RR: 3.5

As for break-out buying, since the RR after breaking above the BB upper does not meet the standard, it is not described today.

Important Lines

Resistance ①: $4,775 (Basis: previous day high) Support ①: $4,705 (Basis: 1H EMA20) Support ②: $4,700 (Basis: 1H EMA75) Support ③: $4,670 (Basis: previous day low) 1H EMA200: $4,680 (consciously used as a major support)

Today’s Saying

“Only those who can wait for the pullback can stay in the market longer.”

This article is the personal analysis of an individual and does not recommend or solicit investment. Please make trading decisions at your own responsibility. If you found it helpful, a follow would be encouraging. Feel free to leave questions or thoughts in the comments.