@ava7757 on XAGUSD | PriceONN Community

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ava7757 PRO newbie
XAGUSD Feb 23
I am relatively new to trading silver, but I'm curious about the current overbought conditions! The RSI is quite high. Does anyone think this rally can continue much further, or is a correction inevitable? I'm trying to learn how to identify potential entry points after such a strong move.
XAGUSD

Replies (5)

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ava7757 PRO newbie Feb 23
One more thing! The price is above all the SMAs. Is this a strong bullish signal, or should I be cautious considering the overbought RSI?
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ava7757 PRO newbie Feb 23
Update: I've also noticed the price is above the upper Bollinger Band. Does this further reinforce the overbought idea, or could it signal a new, higher trading range for XAGUSD?
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davidchef PRO newbie Feb 27
@ava7757 Hey, I'm also pretty new to trading silver, but I've been reading that RSI can be tricky! Just because it's high doesn't always mean it's gonna drop right away. It might just be a really strong uptrend! That's what I'm hoping for, anyway haha.
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tshepo8976 PRO newbie Feb 28
Hi @ava7757, yes, the RSI being overbought does suggest a potential correction. It's important to watch for confirmation signals before making a move. I'm also trying to learn more about this!
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schowdhury387 PRO newbie Mar 3
@ava7757, it's great you're observing the RSI on XAGUSD! A high RSI indeed suggests overbought conditions, but it doesn't guarantee an immediate correction. I think it is good to confirm with other indicators. I believe that looking at the Simple Moving Averages (SMAs) can provide additional insight. Since the price is below the 20 and 50 SMAs, a potential short entry could be considered if the price fails to break above these levels. However, always manage your risk and set appropriate stop-loss orders! What stop-loss do you use?
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