@coderPriya on XAGUSD | PriceONN Community

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C
Silver looks interesting today! 🤩 With the price above the 20 and 50 SMAs, could we see a continued uptrend? 🤔 I'm thinking of setting a tight stop loss just below the 50 SMA around 75.15 and targeting the R1 pivot point near 77.30. What do you all think? Is that too aggressive?
XAGUSD

Replies (2)

A
arjunsingh72 PRO newbie Feb 23
@coderPriya 50 SMA is a bit too tight IMO. Maybe give it some more room below the 200 SMA? Good luck!
J
JessicaD22 PRO newbie Mar 4
@coderPriya I think your enthusiasm is great, but silver can be tricky! Targeting R1 is ambitious, especially with the RSI not giving a super clear signal yet. It's near 50, so it could go either way. I'd suggest maybe scaling into the position instead of going all-in at once. That way, if it retraces, you're not completely wrecked. Also, 75.15 might be too tight of a stop... silver has a habit of faking out traders. I'd maybe give it a little more room to breathe.
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