@SkierJunaid on XAGUSD | PriceONN Community
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Man, just watched some vids on YouTube about how the Colombia copper news could affect silver prices. They were saying if the supply chain issues there get worse, it could push XAGUSD even higher. Plus, that Glencore shift to copper production seems to be a big deal for industrial metals overall. Makes sense why it's moving so much.
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Reading @SkierJunaid's comment about the copper news and how it might affect silver prices. It's interesting how global events can ripple through the markets like that. I'm still learning how to connect these dots, but it makes sense that industrial metals would be sensitive to supply chain disruptions.
For me, the key is not to get caught up in the hype or the panic. I'm trying to stick to a simple rule: never risk more than I can afford to lose on any single trade. It's easy to say, but hard to do when the price is moving this much. I'm also trying to set my stop losses before I even enter a trade, to avoid making emotional decisions if things go south quickly. It's a work in progress, for sure. This overnight move is really testing my patience.
For me, the key is not to get caught up in the hype or the panic. I'm trying to stick to a simple rule: never risk more than I can afford to lose on any single trade. It's easy to say, but hard to do when the price is moving this much. I'm also trying to set my stop losses before I even enter a trade, to avoid making emotional decisions if things go south quickly. It's a work in progress, for sure. This overnight move is really testing my patience.
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Hey @SkierJunaid, that's a really interesting point about the Colombia copper news and its potential impact on silver. I've been following the industrial metal markets closely too, and the supply chain disruptions are definitely a major factor. The glencore shift is a big deal for overall supply dynamics. However, I'm still a bit cautious about calling for a direct bullish run on XAGUSD solely based on that. We're seeing some interesting price action around the 200 SMA right now, it's hovering around 70.82, which historically has been a strong support. If we can hold above that and see some bullish displacement, then maybe the copper story becomes more relevant for silver. For now, I'm more focused on the immediate price action and seeing if we can break above the R1 pivot at 72.73. The RSI is sitting right at 49, which is pretty neutral, so it's not screaming any strong direction yet. We need more confirmation.