15M Gold pullback & "Squeeze" and Buy Breakout RSI > 60-65

For education purposes guys.

One way to trade Gold is on the 15M, 1HR or 4HR and await for a pullback and squeeze-consolidation.

But most of the magic is done with 1 indicator only, the RSI stock-standard with 14.

You want to see Gold breakout initially for longs past 70 and get really overbought. The reverse for shorts under 30 on the RSI.

So we have not bought anything yet. We set an alert or monitor for the RSI on gold to come back to the 50 level or a bit less is okay. But we basically want the RSI to return to about 50 because this is when the squeeze is happening as Gold has a break from momentum until it fires up again.

It will fire up again if you have the price action supporting another run and breakout of Gold.

Now, we watch as the RSI momentum starts to build up again and we can buy the Gold price once the RSI hits 70 which is very good breakout momentum. I like to buy at 60 on the RSI but either is okay.

You sell when the momentum begins to cool again at an RSI level that still exceeds the 70 level for longs. These are usually in and out trades but if the market really opens up for you then stay long gold and good enjoy watching the strategy.

Below is the less noisy chart and it's honestly all you need, 1 indicator RSI with setting 14.