@wlewis36 on XAGUSD | PriceONN Community
Good evening everyone. I'm looking at the XAGUSD chart and it seems to have pulled back quite significantly from the recent highs. Given the volatility we've seen, I've decided to enter a small short position around the 79.50 level. I'm not committing a large portion of my capital due to the uncertainty.
My stop loss is set just above the 80.50 mark, which feels like a reasonable buffer for now. I'm hoping to see a retest of the lower Bollinger band, perhaps near 78.85.
My stop loss is set just above the 80.50 mark, which feels like a reasonable buffer for now. I'm hoping to see a retest of the lower Bollinger band, perhaps near 78.85.
Replies
Actually, thinking about that position size again, I might scale out if it reaches the 79.00 level. It feels a bit too risky to hold a full position overnight if it's not moving decisively. The news about geopolitical tensions reversing could be a factor, as mentioned in.
I'm also keeping an eye on the RSI, which is sitting around 41. It's not oversold yet, but it's definitely not showing strength either. If it dips below 40, I might reconsider entirely. It's just hard to sleep when the charts are this active.
I'm also keeping an eye on the RSI, which is sitting around 41. It's not oversold yet, but it's definitely not showing strength either. If it dips below 40, I might reconsider entirely. It's just hard to sleep when the charts are this active.