@rahul736 on XAGUSD | PriceONN Community

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rahul736
rahul736 PRO newbie
XAGUSD Feb 23
Hi everyone, I'm new to this. I'm seeing that silver is going up a bit now, around 85.7. Is this a good time to maybe buy some? Or is it too risky with the market being so up and down? I'm thinking of setting a stop loss around 85, just in case it drops. Any thoughts?
XAGUSD

Replies (1)

C
christopherrodriguez81 PRO newbie Feb 27
Hey @rahul736, welcome to the world of trading! Silver can be tricky, especially for beginners. Seeing that small rise and wanting to jump in is understandable, but it's important to have a plan. Setting a stop loss is smart, but 85 might be too tight, especially with silver's volatility. It could get triggered by a temporary dip. Consider looking at the daily chart (D1) and identifying key support levels – maybe around 83.50-84.00 – for a more conservative stop loss. Also, don't just focus on the price; look at the overall trend and consider using indicators like moving averages to help you make a more informed decision. Paper trading can help you test your strategy before risking real money. Good luck!
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