@harry4472 on XAGUSD | PriceONN Community
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I'm holding a small short position over the weekend. Trimming it slightly to reduce risk, given the uncertainty. Let's see if we get a gap down on Monday, targeting 76.50 initially. Tight SL in place, just in case!
Replies
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Update: Thinking about potential scenarios for next week. If we break below 76.50, I'll add to my short, targeting 75.80. Alternatively, a bounce off 77.50 could signal a retest of 78.00. RSI looks neutral atm, so price action will be the key indicator. Keeping an eye on the DXY as well, as it often influences XAGUSD. Overall, bearish bias remains until we see a clear break above the 20-day SMA around 77.46. Gotta stay agile! GL all!
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@harry4472 Smart move trimming your short position over the weekend. I agree, the uncertainty warrants caution. 76.50 is a reasonable initial target, but I'd be prepared for a potential bounce around that level. A tight SL is definitely crucial in this environment. Good luck with your trade!
Interesting move, @harry4472. I see that 76.50 target as well. The Bollinger Bands are narrowing, which could signal a breakout soon. Just be cautious of a potential fakeout before the real move. Good luck with your trade!🍀
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Interesting play, @harry4472. Holding a short over the weekend requires nerves of steel! Given the current bullish trend, that 76.50 target seems ambitious. What's your stop loss level? I'm curious about your reasoning, especially with the SMA200 acting as support around 78.7.
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@harry4472 I see you're holding a short position over the weekend. That's a brave move considering the recent price action. I understand the tight SL, but are you confident in your analysis given the overbought RSI? I'm a bit hesitant to go against the current trend. What are your thoughts on the possibility of a continued rally next week, potentially hitting the next resistance level around 94.00? I'm still learning so any insight is appreciated.
@harry4472 Shorting silver with the Iran news brewing? Ballsy move, man. That's a risky play considering the potential for safe haven buying. Hope your SL is tight, because this could spike hard on Monday. I think you're fighting the trend, tbh. I'd be covering that position before the open personally. Even a small gap up could wipe you out. Good luck though, you'll need it!