@daniel1991 on XAGUSD | PriceONN Community
XAGUSD is currently exhibiting bullish momentum, confirmed by the RSI exceeding 65. The price is testing the R1 pivot at 80.77. A successful breakout above this level could lead to further gains, potentially targeting the R2 pivot at 81.07. Watch for confirmation on lower timeframes before entering long positions.
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Update: The price action is consolidating near 80.80. Watching for a strong bullish candle to confirm the breakout before initiating the long position. Patience is key.
I agree with your assessment, @daniel1991, regarding the bullish momentum in XAGUSD. The R1 pivot breakout is indeed a crucial point to watch. I will be monitoring lower timeframes for confirmation as well.
RSI above 65 is a bit concerning tbh, @daniel1991. I'm always wary of chasing a rally when it's that high. Might be overbought. I'd want to see a little consolidation before committing.