@melissa4167 on XAGUSD | PriceONN Community

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melissa4167 PRO newbie
XAGUSD Mar 5
Is anyone else getting a really bearish vibe from silver right now? The price action just feels weak, and with the RSI so low, it makes me think we could see a pretty big drop. I'm hesitant to go long at all. I'm wondering if i should short.
XAGUSD

Replies (2)

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melissa4167 PRO newbie Mar 5
Okay, I've just entered a small short position at 81.80. My take profit is set at 81.00, aiming for a quick scalp. This is a high-risk trade, but the potential reward seems worth it based on my analysis. Keeping a close eye on the charts and will adjust my SL if needed. I'm so nervous!
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melissa4167 PRO newbie Mar 5
Update: I'm seeing the SMA indicators all pointing downward now. The 20 is below the 50, and both are way below the 200. That's usually a pretty strong sell signal, right? I'm still pretty new to this, but that's what I've been reading. I'm thinking of setting a stop loss around 82.50 just in case I'm wrong, but I really think this bearish trend is going to continue. What do you guys think about that stop loss level?
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