Planning my XAGUSD strategy for Monday. Given the overbought RSI and the strong bullish trend, I'm considering a small short position near R1 (83.48) with a tight stop loss. However, I'll wait for confirmation of a reversal before entering. Risk management is key with these volatile moves.
Update: Thinking about it more, a better approach might be to wait for a pullback to the 20 SMA (80.5) before considering a long position. The current RSI is unsustainable, and a correction is likely. Will monitor price action closely during the first few hours of trading on Monday. Patience is crucial.
