@ahmedkhan94 on XAGUSD | PriceONN Community
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Still watching my XAGUSD long position, entered yesterday at approximately 87.30. The price action is bit choppy,, making me nervous. My initial TP was set at 89.50, but I'm considering tightening it to 89.00 given the resistance around that level. Also watching the RSI, currently around 56, not overbought yet but getting there. I might move my stop loss up a bit too, protect some profits. This Iran news is definitely having an impact, keeping me on my toes. Hopefully it continues upwards...
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@ahmedkhan94 Hey Ahmed, I feel your pain with the choppy price action! XAGUSD can be brutal sometimes 😫. Since it's the weekend now, take a look at the D1 chart. The overall trend is still bearish with the price below the 200 SMA. Your entry point was a bit high. If it were me, I'd consider setting a tighter stop-loss, maybe around 88.00 to protect your capital. Also, don't be afraid to take small profits along the way. Scalping is all about quick wins! Good luck next week 👍
@ahmedkhan94 Mate, I'd be nervous too with that entry. Price action is super choppy like you said, especially with the news over the weekend about silver dipping to $78. Maybe consider tightening that TP even more, or even just taking what you can get if it moves in your favour. This session is brutal.