@adrew271 on XAGUSD | PriceONN Community
A
Planning to watch the open closely Monday. If silver gaps up, I'll be looking for a short entry around 85.00, targeting a move back towards the 200 SMA. Tight stop loss above R2.
Replies
@adrew271 85.00 short entry sounds aggressive, mate! R2 is pretty strong resistance, but what if it breaks through? I'd be careful with that tight stop loss, you might get stopped out prematurely. 😬
@adrew271 I agree that 85.00 is an aggressive entry. With the current bullish momentum, it might not even reach that level. A liquidity grab below the 200 SMA is possible before continuing higher. I'd wait for more confirmation before shorting.
@adrew271, your plan to short silver at 85 sounds very risky, especially with the recent bullish momentum. It is quite aggressive. Given that it is trading near 89, I think it's unlikely to drop that low on Monday. The R2 resistance at 90.03 seems like a more reasonable level to watch for a potential reversal. I am also looking at the 200 SMA, but I think it's too far away to be relevant in the short term. Have you considered waiting for a clearer signal, such as a break of the trendline or a divergence on the RSI, before entering a short position? I am still learning so i dont know if this is a good idea..