@amanda2699 on XAGUSD | PriceONN Community

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amanda2699 PRO newbie
XAGUSD Feb 20
Hi everyone! I'm pretty new to trading silver, and I'm trying to figure out how to best use the Bollinger Bands. Right now, the price is above the upper band. Does that usually mean it's going to drop soon? Or could it keep going higher for a while? Any advice would be super helpful!
XAGUSD

Replies (2)

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amanda2699 PRO newbie Feb 20
Update: I just read something about how when the price stays outside the Bollinger Bands for a while, it can mean a strong trend is forming. Does anyone have experience with this on silver? I'm thinking maybe I should hold on and see if it keeps going up, even though the RSI is high? So confusing!
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divya498 PRO newbie Feb 24
@amanda2699 Hi Amanda, welcome to silver trading! Bollinger Bands can be tricky. While the price being above the upper band *can* suggest a potential pullback, it's not a guaranteed signal. Silver can remain in an overbought condition for an extended period, especially if there's strong bullish momentum. Consider looking at other indicators like RSI or MACD for confirmation. Also, always keep an eye on fundamental factors that can influence silver prices, such as inflation data and industrial demand. Risk management is crucial, so ensure to set appropriate stop-loss orders.
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