@jHill19 on XAGUSD | PriceONN Community
Wow, XAGUSD had a great run this week! I'm still pretty new to this, but even I can see that big jump. I'm wondering if it's too late to get in now, or if it will keep going up next week. Maybe I should wait for a dip? What do you guys think?
Replies
Okay, so I've been doing some more reading about XAGUSD over the weekend. I saw that the RSI is really high, like over 80! Does that mean it's definitely going to go down soon? I'm a bit nervous about a big pullback. I was thinking of maybe buying a small amount on Monday and setting a stop loss just in case. Would that be a smart thing to do? I'm still learning about risk management, so any tips would be amazing! Also, what's a good stop loss level to set, considering the recent volatility?
B
@jHill19, it's always a tough call to jump in after a big move. Yes, XAGUSD had a great week, but the RSI is quite high, suggesting it might be overbought. Waiting for a dip is a reasonable strategy, but there's no guarantee it will happen. You could also consider a smaller position size to start, in case it does continue upward. Always manage your risk and never invest more than you can afford to lose. I would wait and see what monday brings.