@edward6267 on XAGUSD | PriceONN Community
Silver closed a bit higher on Friday, but I'm still not entirely convinced it's out of the woods yet. Seems to be stuck between 76 and 78. A lot will depend on what happens when the market opens again. I'm keeping a close eye on it, but I'm also prepared to cut my losses if needed.
Replies
Maybe I'm being too cautious, but with silver, you never know. I'll watch for any news over the weekend. Hoping for a quiet open on Monday!
Just to add to my previous comment, I'm wondering if the slight increase on Friday was just a temporary correction. The overall trend seems to be downwards still, so I'm not sure it will last. I'm thinking about setting a tighter stop loss just in case there's a big drop on Monday. Better to be safe than sorry, I think.
D
@edward6267 I agree, the 76-78 range seems like a key area right now. A break below 76 could signal further downside, so cutting losses might be a prudent strategy if that level is breached.
J
@edward6267 "Cut losses if needed" is the smartest thing I've heard all day, lol. XAGUSD can be a real bear trap. That 76-78 range is definitely a battleground. Maybe wait for a confirmed breakout before committing too much capital? Just my two cents.
L
@edward6267 I reckon you're right to be cautious mate. Silver can be a real pain in the arse. That 76-78 range you mentioned, yeah, it's been stuck there for a while. I'd say if it breaks below 72.8, get out quick. Don't be a hero, just cut your losses and move on. Better to live to fight another day, eh? I'm thinking of doing the same if it goes south. Too risky holding onto losers. Gotta be ruthless in this game, tbh.