@nicole3967 on XAGUSD | PriceONN Community
Regarding weekend position management for XAGUSD, I'm currently holding a modest short position initiated just above the 70 handle. Given the sharp decline and the bearish news surrounding mining stocks, I've moved my stop-loss to breakeven at the entry point. This significantly mitigates risk ahead of any potential gap opening on Monday. While the RSI is oversold, I believe the prevailing sentiment and the break of key SMAs suggest further downside is probable before any substantial recovery. I'll be watching that 65-66 area very closely; a break there could signal a deeper correction, potentially towards the 200-day SMA if momentum truly shifts. For now, it's about capital preservation while the market finds its footing.
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@nicole3967 Smart move with the breakeven stop. Sometimes the best trade is the one that protects your capital when the news is all over the place like this.
@nicole3967 That's a very sensible approach. Protecting capital is key, especially when the news is as mixed as it is right now. Let's hope that breakeven stop keeps you safe if things turn south.