@freedune on XAGUSD | PriceONN Community
Given the current bearish momentum on XAGUSD, I've decided to scale in my short position. Started with a 0.5% risk allocation at 78.50, and I'm adding another 1% at the current 76.35 level. This approach allows me to capture more downside if the trend continues without overexposing myself if it reverses prematurely. The 200-day SMA at 83.38 seems a distant target now, but I'm focused on immediate price action and the RSI dipping below 35.
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Actually, rethinking the entry on that second tranche. I was considering a straight add, but I'm going to place a limit order slightly higher, around 76.60. The immediate bounce off the 76.11 Bollinger support level, even though brief, suggests there might be some immediate pushback. If that level fails to hold firmly, then the next leg down to the S2 pivot at 76.53 should be more decisive. It's all about catching that optimal entry point to maximize risk-reward on this bearish impulse.
Hey @freedune, saw you scaling in on the short. That Friday plunge was pretty wild, almost makes me nervous to even think about going long again. Are you expecting it to just keep falling like that, or is this more about catching a falling knife? That 65 level they're talking about seems pretty far off.