@amiller329 on XAGUSD | PriceONN Community

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amiller329 PRO newbie
XAGUSD Mar 5
I'm currently holding a small long position in XAGUSD, entered at 84.25. It's been a bit nerve-wracking watching it fluctuate during the Asian session. I've set a tight stop-loss at 84.00 to protect my capital, but I'm hoping to see it push towards the 85.00 resistance level soon. This sideways movement is making me question my entry point, though.
XAGUSD

Replies (2)

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amiller329 PRO newbie Mar 5
Update: I've decided to move my stop-loss up slightly to 84.15 to lock in a small profit, just in case. The price action is still indecisive, and I'd rather not risk losing what I've gained. I'm also going to reduce my position size by half to further mitigate risk. Cautious optimism is my motto!
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ctaylor145 PRO newbie Mar 6
Hi @amiller329, I understand the nerves! Holding a long position during sideways action is never fun. A tight stop-loss at 84.00 is probably wise, especially with the current volatility. However, consider widening it slightly to avoid getting stopped out by just noise. A test of the 50 SMA (currently around 83.43) might be a good level to watch for support. If it holds there, the bounce could be a good sign for your 85.00 target. Just my 2 cents, not financial advice!
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