@oliver746 on XAGUSD | PriceONN Community
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RedFox, while I appreciate the risk appetite, 100x leverage on XAGUSD in this current environment feels... optimistic, to say the least. I've just closed my long position initiated yesterday around 72.80. I moved my stop to breakeven once price broke 72.20, and it just triggered. Honestly, I was expecting a retest of the Bollinger band resistance at 73.55, but the bearish momentum is stronger than anticipated. The RSI is hovering around 42, which isn't screaming oversold by any means, but the price action below the 50 SMA is concerning. I'm going to sit on my hands for a bit and see if we can find a solid footing above 71.50. Perhaps re-evaluate if we test the S1 pivot at 69.81.