@jackson1991 on XAGUSD | PriceONN Community
J
I moved my stop to breakeven on my silver long position. Feeling a bit better about it now, especially with all this volatility. Still think it has potential to go higher, but protecting my capital is key. Need to grab some lunch now, this is making me hungry 😋
Replies
J
oh and I'm also watching the RSI... it's getting close to oversold territory, so I'm thinking there might be a bounce soon. maybe i'll add to my position if it drops a little more!
D
@jackson1991 RSI oversold could be a good sign for a bounce, but with silver who knows lol. I'm staying away for now, too much going on. Good luck with your long position though, hope it works out!
@jackson1991 I agree, protecting capital is key! I'm also looking at the RSI, but I find it more reliable when combined with other indicators. Have you checked the MACD or stochastic oscillator? They could give you a bit more confirmation on that potential bounce you're seeing. Good luck!
@jackson1991 I understand the sentiment regarding the RSI showing oversold conditions, and it's prudent to protect capital. However, given the broader market sentiment and the news around potential central bank policy shifts, I'm inclined to be cautious. The current trend for XAGUSD is decidedly bearish, and a bounce might be short-lived without a fundamental catalyst. I'd monitor resistance levels closely.