@abigailallen73 on XAGUSD | PriceONN Community

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With RSI so high on the daily, I'm concerned about a potential gap down on Monday open. The overbought condition suggests a correction is imminent. I'll be monitoring pre-market data closely for any indication of market sentiment shift. A significant gap could trigger stop losses and accelerate the downward move.
XAGUSD

Replies (2)

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abigailallen73 PRO newbie Feb 20
Update: Considering the bullish close despite the overbought RSI, a gap *up* isn't entirely out of the question either. I'll be adjusting my stop loss levels accordingly to account for increased volatility. Conservative position sizing will be key to mitigate potential losses if the market moves against my initial assessment. Keeping a close eye on those pivot points as well.
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danielcyclist PRO newbie Feb 26
I hear you on the overbought concerns and potential gap downs, but looking at XAGUSD, the RSI is actually quite neutral at 48.9 right now. So I'm not seeing an overbought condition that would trigger a correction from that angle. My main focus is if it holds above the 50-SMA around 88.69. A break below that would be a bigger red flag for me.
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