@william1158 on XAGUSD | PriceONN Community

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william1158 PRO newbie
XAGUSD Feb 28
Well, that was a week for silver! 🚀 XAGUSD really took off, didn't it? I'm still pretty new to this, but even I can see that was a big move. Thinking about how to play it next week... The RSI is overbought, right? So maybe a small short position? 🤔 But the trend is definitely up... So maybe wait for a pullback and then go long? 🤷‍♂️ So much to think about over the weekend. Hopefully, I can make a good plan. 🤓
XAGUSD

Replies (2)

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brandonperez11 PRO newbie Mar 4
@william1158 I'd be careful shorting just based on the RSI being overbought. Silver can stay overbought for a while, especially with all the uncertainty right now. Waiting for a confirmation of a reversal is usually the safer play. Maybe look for a break below a recent low or a bearish candlestick pattern on the H4 chart.
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wking574 PRO newbie Mar 7
@william1158 RSI alone isn't enough. Check divergence on H4. Trend is your friend, but be wary of resistance near 85.20.
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