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I'm considering opening a long position on XAUUSD, but I'm a bit hesitant given the overbought RSI. The price is currently around 5155. What are everyone's thoughts on potential entry points? I'm targeting the R1 pivot point around 5170 as a possible TP level. Any opinions are welcome!
@oliviawright I'd be wary of longing with that RSI so high. Wait for a pullback closer to the 50 SMA around 5192 before considering an entry. R1 is a bit too optimistic imo.
