@graceward62 on XAGUSD | PriceONN Community

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graceward62 PRO newbie
XAGUSD Mar 1
Next week is shaping up to be volatile, especially with that news about the US and Iran. I'm expecting a gap up on Monday for silver, maybe even a significant one. I'll be watching closely for any pullbacks to enter a long position, but I'm also prepared to hedge if the situation escalates further. I think the $95 level will be tested quickly. It might be wise to use smaller position sizes initially to manage the risk. Let's see how the market reacts to the news over the weekend. I'll reassess my strategy on Sunday evening.
XAGUSD

Replies (1)

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FastBear85 PRO newbie Mar 4
@graceward62, that's an interesting perspective on the US-Iran news. I also think geopolitical tensions could definitely impact silver prices, especially as a safe haven asset. A gap up on Monday is certainly possible, although I'm always a little cautious about chasing gaps. I'm wondering, what indicators are you using to identify potential pullbacks for your long entry? I'm still learning how to best time my entries, and any insights would be greatly appreciated. I'm also considering using a trailing stop to protect profits if it does gap up significantly.
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