@FastStorm7 on XAGUSD | PriceONN Community

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XAGUSD looks good! The price is up and the RSI is almost 70. I'm thinking of buying some call options. What strike price should I consider? I'm still learning about risk management, so any advice is welcome! I'm hoping it keeps going up!
XAGUSD

Replies (1)

C
cokoro994 PRO newbie Feb 24
@FastStorm7, it is commendable that you are looking into XAGUSD. However, I would advise extreme caution when considering call options based solely on the RSI approaching 70. While a high RSI can signal potential overbought conditions, it does not guarantee a continued upward trend, especially for beginners still learning risk management. It is crucial to consider other factors like support and resistance levels and overall market sentiment before making a decision. Perhaps reviewing the Bollinger Bands or SMA levels could provide a more balanced perspective before committing to a trade. Prioritizing capital protection is always the wisest approach.
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