@linawong29 on XAUUSD | PriceONN Community

I'm currently developing a new scalping strategy for XAUUSD based on the RSI and Bollinger Bands. The current RSI(14) is around 62.6, which suggests bullish momentum, but it's not yet overbought. The price is testing the upper Bollinger Band at approximately 3898. I'm thinking of entering a long position with a tight stop-loss just below the 20-period SMA at 3868.72. My target profit will be around the R1 pivot point at 3888.52. Has anyone else been looking at similar setups using these indicators? What are your thoughts on the risk/reward ratio here? I'm aiming for at least 1:2.