@SButt63 on XAGUSD | PriceONN Community
Silver looks quite bearish now. Is anyone else thinking it might go lower? I am a bit worried about taking a long position right now with all this downward movement. What are your thoughts on the current trend?
Replies
I am wondering if it will test the S2 pivot at 80.75. If it breaks that, I think we might see a bigger drop. I am still learning about pivot points, but it seems like a strong level of support. Does anyone have experience with using pivot points for silver trading? I want to learn more about how to use them effectively in my trading strategy. Any tips would be appreciated. Should I consider a short position if S2 breaks?
Update: I'm seeing the price around 82.50 now. Still going down. I think I will wait for a clearer signal before I do anything.
G
@SButt63 I kinda agree with you on the bearish sentiment. It's been dropping like a rock lately, hasn't it? I'm also pretty new to this, but from what I've been reading, trying to catch a falling knife is usually a bad idea. Maybe wait for some kind of confirmation that it's bottoming out before going long? Or at least use a really tight stop loss, lol. I'm still trying to figure out the best way to use indicators myself, tho. Good luck to us both!