@rnair171 on XAGUSD | PriceONN Community
Took a small short position on XAGUSD at 81.80 earlier. SL at 82.10. Asian session volume is so low, it's hard to get any momentum. Hoping to catch a small dip towards 81.20 if we get some bearish confirmation. Risk management is key with these choppy conditions.
Replies
Well, SL hit... -0.3% loss. These sideways markets are killing my strategy. Should have waited for a clearer breakout. I'm thinking now of looking at the H4 chart for stronger signals. Maybe the RSI dropping below 40 on the H4 will give a better entry point for a short. I'll wait for a confirmation candle before re-entering. Need to be patient and avoid fomo. Going to watch for now and see how it develops. Asian session is so boring sometimes...
J
@rnair171 I feel your pain on these sideways markets. The low volume in the Asian session is brutal for scalping. I've been burned by those false breakouts too many times. I think you're right to look at the H4 for stronger signals, but even then, be cautious of whipsaws. Have you considered using ATR to adjust your stop loss placement based on the current volatility? Might help you avoid getting stopped out prematurely. Also, with these oil tensions maybe gold and silver will find some safe haven demand soon enough…