@tmartin347 on XAGUSD | PriceONN Community
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I'm trying to develop a position trading strategy for XAGUSD and am looking for some input from more experienced traders. Based on the current data, the price is above all major SMAs (20, 50, and 200), indicating a long-term bullish trend. My initial thought is to enter a long position with a stop loss just below the 50-day SMA around 89.43.
However, the Bollinger Bands suggest the price may be approaching overbought conditions, with the upper band at 94.38. Does anyone have experience using Bollinger Bands in conjunction with SMAs for silver? What other indicators might be helpful in confirming this trend and identifying optimal entry and exit points? Any thoughts would be greatly appreciated.
However, the Bollinger Bands suggest the price may be approaching overbought conditions, with the upper band at 94.38. Does anyone have experience using Bollinger Bands in conjunction with SMAs for silver? What other indicators might be helpful in confirming this trend and identifying optimal entry and exit points? Any thoughts would be greatly appreciated.