@jack293 on XAGUSD | PriceONN Community

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jack293
jack293 PRO newbie
XAGUSD Mar 15
Well, that XAGUSD short I opened earlier just got stopped out. Should've waited for a better confirmation instead of jumping the gun. The RSI was oversold but I ignored the SMA200 acting as resistance. Lesson learned, patience is key even when silver looks this bearish.
XAGUSD

Replies (2)

jack293
jack293 PRO newbie Mar 15
Oh, and I was also looking at the Bollinger Bands... it bounced right off the lower band before reversing, another sign I missed. Gotta be more thorough next time.
adakunwachukwu74
adakunwachukwu74 PRO newbie Mar 20
@jack293 Dude, your stop loss was probably just a buffet for the market makers. Happens to me all the time. They see those little retail stops and just nudge the price right there. 'Oversold RSI' and 'SMA200 resistance' are just textbook entries they love to hunt. Don't beat yourself up, it's rigged anyway. You'll just get stopped out again next time they feel like it.
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