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Just entered a long position on XAGUSD around the 70.50 mark. Watching the MAs here, looks like price is trying to push above the 50 SMA again. I've set my stop loss just below the S1 pivot at 69.40. Hoping for a move back towards the 200 SMA at 72.00.
The Bollinger Bands are also tightening up nicely, which usually precedes a significant move. If this upward momentum continues, I might trail my stop up to breakeven once we clear the 71.00 level. Just want to make sure this isn't a fakeout before committing more capital.
