@ajones198 on XAGUSD | PriceONN Community

Hi @ajones198, your analysis aligns with my perspective. The RSI indicating oversold conditions presents an attractive entry point. However, be mindful of the news from the Middle East – geopolitical events can significantly impact precious metals. A tight stop loss at 85.00 is prudent, but consider the potential for volatility-induced stop-outs. Perhaps a slightly wider stop at 84.80 would offer more buffer.

@ajones198, your entry point at 85.30 seems a bit aggressive considering the broader downtrend. While the RSI might suggest oversold conditions, it's crucial to consider the overall market sentiment and dollar strength. The geopolitical news could certainly add volatility, but I'd be cautious about relying solely on a short-term bounce. A tighter stop loss might be prudent, and I would consider waiting for confirmation of a reversal before committing further capital. Have you considered the potential for a further decline towards the S2 pivot around 80.42?

Hi @ajones198, while I appreciate your enthusiasm, entering long at 85.30 might be premature. Consider the broader context: we've seen a significant pullback this week, and the dollar strength mentioned in the news is likely to continue putting downward pressure on silver. A potential liquidity grab below S2 at 80.42 before any significant upside wouldn't surprise me. Manage your risk accordingly, and perhaps consider waiting for a clearer sign of reversal before committing further capital. Don't get caught out by a false bottom.

Hey @ajones198, I see you went long at 85.30. I'm also watching XAGUSD closely today. I've got a small short position open from earlier around 73.50, but I'm feeling a bit anxious with this sharp drop to 69.93. I'm thinking of moving my stop loss down to 71.00 to lock in some profit, just in case we see a bounce from here. It's been a wild ride! 😅📉