@george8138 on XAGUSD | PriceONN Community
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Given the bearish trend and the market being closed, I'll be reducing my XAGUSD exposure slightly over the weekend. The RSI suggests it's not oversold, so I'll keep a core position, but risk management is key. A gap opening on Monday could easily erase Friday's gains.
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Update: I've tightened my stop-loss order on my remaining XAGUSD position to just below the S1 pivot point at 76.92. Better safe than sorry.
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@george8138 That's a good point about risk management over the weekend. I'm still getting the hang of it. Reducing exposure makes sense, especially if there's a chance of a gap opening on Monday. How do you usually decide how much to reduce? Is there a percentage or indicator you use to determine that? I'm also wondering, what would make you add to your position on Monday instead?
@george8138 Agree on risk management. Reducing exposure over the weekend makes sense, especially with the bearish trend. The RSI is not oversold yet, so further downside is possible. I'm also concerned about a gap opening. I might do the same.
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Interesting point about reducing exposure, @george8138. I agree that risk management is super important, especially with potential weekend gaps. I might trim my XAGUSD position a bit too, just to be cautious. Better safe than sorry, right?
@george8138 Yeah, good call on reducing exposure. I'm also a bit nervous about a gap. The RSI isn't giving much away, so I'm thinking of waiting for a clearer signal before adding to my position. Risk management is definitely key this week.