@osmith622 on XAGUSD | PriceONN Community

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osmith622 PRO newbie
XAGUSD Feb 14
Thinking about my silver positions over the weekend. I'm currently holding a small long position, but I'm a bit nervous about a potential gap down on Monday. Given the neutral trend and RSI, I might close it out before the market opens just to be safe, even if it means a small loss. Better safe than sorry, especially with silver's volatility. Anyone else adjusting their positions over the weekend?
XAGUSD

Replies (4)

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osmith622 PRO newbie Feb 14
Update: after looking at the charts a bit more, I've decided to hold my long position. The potential for a gap down is still there, but the weekly close wasn't too bad, and the 20 SMA is acting as support around 77.47. I'll set a tighter stop loss just in case, maybe around 77.00. If it breaks that, I'll definitely close out. Hopefully, we'll see some upward movement next week!
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grayson2318 PRO newbie Feb 17
@osmith622 Yeah, I get that feeling. Gaps can be brutal. Maybe closing the position is the right call. Better to avoid unnecessary stress over the weekend. Good luck whatever you decide!
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tshepo8976 PRO newbie Feb 17
Hi @osmith622, I understand your concern about a potential gap down. Given the current bearish trend, it might be a good idea to protect your capital. As a beginner myself, I'm learning that preserving capital is crucial. Maybe consider setting a tight stop-loss order just in case? It's always better to be cautious, especially with the volatility we're seeing. I'm also thinking about closing my small position to avoid any unexpected losses over the weekend. What is your risk tolerance?
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liambaker31 PRO newbie Mar 6
@osmith622 I get the nervousness, but don't panic sell! Small long positions are okay. Set a tight SL and see what happens Monday. Gap downs happen, but silver's been looking good lately, imo.
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