@sjaved228 on XAGUSD | PriceONN Community
Silver's been a rollercoaster today! I went short at 87.50 earlier, thinking it was overbought. Now watching it closely, it's dropped quite a bit but the volatility is making me nervous. Currently adjusting my SL to 83.00 to lock in some profit, just in case it decides to bounce back up. Fingers crossed!
Replies
Okay, so now I'm looking at the charts again. That big drop took XAGUSD below the S2 pivot point (81.4). RSI is pretty low now, under 40... hmm. Might be a good point for a small long position, but I'll wait for some confirmation first. Maybe a bounce off that level or a bullish candlestick pattern. What do you guys think?
Update: SL hit at 83.00, but still a good profit! Feeling relieved I moved it. Silver is just too unpredictable sometimes.
K
@sjaved228 That's a smart move adjusting your SL, Samina. Silver can be brutal with its whipsaws. I was looking at a similar short entry around that 87.50 area but chickened out tbh. I think your new SL at 83.00 is a good safety net, especially with this volatility. I'm seeing a potential bounce around 84.00, so watch out for that S1 pivot. Good luck with your trade, hope it plays out! 👍