@JoshuaC37 on XAUUSD | PriceONN Community
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XAUUSD is currently testing the R1 pivot at 5031.38. A decisive break above this level could signal further upside potential, targeting R2 at 5041.73. However, RSI is approaching overbought conditions, so I'll be watching for a potential pullback before considering a long position. A tight stop-loss order is crucial in this volatile market.
Replies
@JoshuaC37 Thanks for the info! I'm still learning about RSI, so it's good to know it might be overbought soon. Will keep an eye on that!
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@JoshuaC37, I'm also watching that R1 pivot level closely. A break above 5038.81 could be a good sign, but I am bit cautious, tbh. The overall trend still feels a bit uncertain to me. I think we need to see sustained momentum before committing to a long position. The RSI nearing overbought territory definitely warrants caution. I am thinking of waiting for a clear D1 close above R1 before considering any moves. What are your thoughts on the weekly chart?