@M_Reddy on XAUUSD | PriceONN Community

@M_Reddy, that's a valid concern! Jumping into a rally can be risky. Given the recent price surge in XAUUSD, waiting for a pullback is a prudent strategy. The RSI is elevated, suggesting it might be slightly overbought. A potential entry point could be around the 5047 level, which aligns with S1 pivot point. This would offer a better risk-reward ratio. However, be prepared for the possibility that the pullback may not materialize. A small initial position with a tight stop-loss could be a good compromise. Always remember to manage your risk and never invest more than you can afford to lose. Good luck with your trading!