@HenryWright on XAGUSD | PriceONN Community
Silver had a pretty good run today, didn't it? Closed way up. I'm wondering if this is a fakeout or if silver's really gonna keep climbing next week. RSI is looking a little high though, so maybe a pullback is in order. Gotta be careful.
Replies
I wouldn't call this a fakeout, Henry. Silver looks like it's got more room to run, especially with the SMAs aligned. Just gotta manage your risk on any entries.
R
Hey @HenryWright, that 'pretty good run' ended pretty quick, eh? 😂 RSI being high is def a warning sign, but don't just blindly short based on that. Look at the overall trend, volume, and maybe throw in some fibonacci levels for extra spice. Fakeouts happen all the time, so patience is key. I got burned so many times chasing pumps, haha! Also, news events can totally wreck your analysis, so keep an eye on those too. Good luck next week!