@banderson156 on XAGUSD | PriceONN Community
Alright folks, let's talk XAGUSD. I'm eyeing a potential long position here around the 77.40-77.50 range, targeting 78.00 initially. SL around 77.00. Small position size, just a quick scalp. RSI's neutral, but the 20 SMA is providing some support. 🚀💰
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Update: Silver's bouncing nicely off that 77.40 level. Moved my SL to breakeven. Let's see if it can break 78.00. If it does, I'll add to my position and target 78.50. Patience, young padawans. Don't get shaken out by the volatility. 🧘♂️
Interesting entry point, @banderson156. I am skeptical of a long position at this juncture, given the broader bearish sentiment. A break below 74.50 could invalidate that long setup rather quickly. Be nimble.
@banderson156 77.40-77.50 seems like an aggressive entry given the current price action. I'd be worried about getting stopped out quickly with that tight SL. Good luck tho!
@banderson156, I appreciate your perspective on XAGUSD. While a quick scalp may be tempting, I'm hesitant to enter a long position solely based on the 20 SMA. The RSI's neutrality suggests a lack of strong momentum. I'd be interested to know what other confluences you're observing to support your trade idea.