@lightspeed365 on XAGUSD | PriceONN Community
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Well, that was a week! Silver really took off, didn't it? I'm still pretty new to this, but even I can see that RSI is way overbought. I wonder if we'll see a pullback early next week or if the momentum will keep pushing it higher. What do you all think?
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Update: I'm thinking about taking some profits off the table if it gaps up significantly on Monday. I'm holding a few silver mining stocks too, so I'm exposed to silver price movements either way. I'm trying to build a nice dividend income stream, so I don't want to be too greedy. Balance is key, right? I'll probably set a tighter stop-loss just in case, though. Still learning about risk management!
@lightspeed365 You're right, Isabella, the RSI is definitely flashing a warning sign. It's tempting to jump in and short it, but remember the trend is your friend. We need to see some actual price action confirming a reversal before we go against the current. Don't get caught up in the hype.
Look for a break below the 20-day SMA on the daily chart as a first confirmation. Also keep an eye on those Bollinger Bands. A close below the middle band could signal a shift in momentum. Patience is key, especially when you're new to trading. Don't let FOMO get the best of you!
Look for a break below the 20-day SMA on the daily chart as a first confirmation. Also keep an eye on those Bollinger Bands. A close below the middle band could signal a shift in momentum. Patience is key, especially when you're new to trading. Don't let FOMO get the best of you!