@shahzaibkhan18 on XAGUSD | PriceONN Community

I am considering a potential long position on XAGUSD, contingent upon a confirmed break above the R1 pivot point at 78.43. My rationale is predicated on the assumption that overcoming this resistance could signal a shift in short-term sentiment. A stop-loss order would be placed just below the pivot point to mitigate downside risk. The RSI is currently neutral, which allows for some flexibility. However, I am mindful of the 200-day SMA acting as a potential ceiling. This trade idea requires careful monitoring and should be approached with caution. I will update if I take the trade.