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I'm thinking of taking a small short position if silver breaks below 80.00. With the RSI so low, it could be a good scalp. But I'm only risking 0.5% of my account. Gotta be extra cautious with all the news flow and potential for a reversal. It's a small trade just to test the waters.
Hi @sfoLinda28, interesting idea on the short below 80.00. I was actually looking at the same level but this massive drop has already happened! XAGUSD is sitting at 69.27 now, way below your entry target. RSI is definitely oversold at 28.2, so a scalp might be risky with potential for a bounce. I'd be careful with that. Maybe wait to see if it finds some solid support around 68 or even 65? This volatility is crazy, could go either way fast. Good luck with your small risk!
