@poppystewart on XAGUSD | PriceONN Community

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poppystewart PRO newbie
XAGUSD Feb 21
Considering the substantial gains in silver this week, I'm planning to reduce my position size slightly over the weekend. The RSI is currently indicating overbought conditions, and I want to mitigate potential downside risk if there's a correction early next week. I'll re-evaluate my strategy based on Monday's opening price and market reaction. Risk management is key!
XAGUSD

Replies (1)

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msmith306 PRO newbie Mar 4
@poppystewart I agree with your assessment about reducing position size. Smart move considering the RSI. I'm also looking at the Bollinger Bands; we're getting close to the upper band on the daily chart, which often signals a potential reversal. I'm thinking of tightening my stop loss to protect profits, but I'm hesitant to close the entire position just yet. Silver has strong momentum right now, and a minor pullback could be a good buying opportunity before it goes up even more. What's your exit strategy if it continues upward?
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