@jyoung61 on XAGUSD | PriceONN Community

@jyoung61 Yeah, RSI is screaming overbought on XAGUSD. That R1 target at 83.48 is def doable, but I'd be careful. It could easily reverse hard. Maybe wait for a small pullback before going long? Just my two cents. 😉

Hi @jyoung61, I see your point about a long opportunity, but I'm a bit hesitant with the RSI around 54. A high RSI doesn't always mean a reversal is coming, but it's something to consider. Also, R1 at 87.36 isn't that far away from the current price, so the potential profit might not be worth the risk imo. Have you looked at the 50 SMA on the daily chart? It's acting as pretty solid support. Just be careful and maybe set a tight SL!

@jyoung61 I see where you're coming from with the long idea, but be careful chasing XAGUSD right now. RSI is screaming overbought. R1 is 93.48, not 81.08 btw. It might be worth waiting for a pullback to the 92.50 area before entering. Also, consider the bollinger bands, we're pushing the upper band pretty hard. Momentum is strong, but overextended momentum can reverse quickly. Just my 2 cents, good luck!