@sharptide on XAUUSD | PriceONN Community
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Alright, I'm looking at a potential XAUUSD long position. The price is currently around 3886, and the RSI(14) is showing a bullish signal at 62.6. All the SMAs (20, 50, and 200) are below the current price, which could act as support levels. I'm thinking of entering a position near the 3883 level, which is around S1 pivot point. I'll set a stop-loss around 3880 just below S2, and a take-profit around 3891, near R2. Does this sound reasonable? I'm still learning options so any input is welcome!