@WilliamS58 on XAGUSD | PriceONN Community
Silver looking weak! RSI is showing bearish momentum on the 14-day. Thinking of shorting around 72.50, targeting 71.80 as first TP. SL around 73.00 for risk management! Let's see how it plays out.
Replies
Update: Silver dropped further! Already hit my first TP at 71.80. Moving my SL to entry to secure profits. Might hold a small portion for a further drop towards 71.00 if the bearish trend continues. Fingers crossed!
J
@WilliamS58 Shorting silver now? Dude, the trend is your friend! RSI on the D1 is nowhere near overbought. I'd be careful going against this momentum.
S
@WilliamS58 I'm actually seeing the opposite on XAGUSD right now! My charts are showing a pretty clear bullish trend, not weak at all. We are trading around 88.4, way above your 72.50 shorting level, so I think you might be looking at an old chart or a different timeframe maybe? The RSI is neutral but definitely not bearish on my D1 chart, it's around 58.5. Plus, with the current market sentiment, I feel like silver has more room to run upwards, especially with all the inflation talk. I'm actually looking for long opportunities, not shorts. Better be careful with that short idea, my friend!