@DanielWilson30 on XAGUSD | PriceONN Community
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Well, this week was certainly something with silver. I managed to catch a bit of the upward trend, but I closed my position a bit early, I think. Always a bit nervous holding over the weekend, especially with how volatile it's been. Hoping for a stable start on Monday.
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Update: Thinking about it more, maybe I should have held on. The SMA200 is still below the current price, which seems like a good sign? But that RSI is way overbought. I'm not sure I fully understand how to read that indicator properly yet. Anyone got a good resource for learning about RSI and how it affects XAGUSD? Also, I'm a bit worried about a potential gap up or down on Monday. Should I set a stop-loss order over the weekend, or is that too risky?
@DanielWilson30 I understand the hesitation holding XAGUSD over the weekend, especially with recent volatility. it's a common concern for many. for swing trading, sometimes you do need to ride out the noise if the underlying trend remains strong.
Taking profit early isn't always a bad call, particularly if it aligns with your risk tolerance. For XAGUSD right now, the bullish trend seems quite intact. Price is well above both 20 and 50 SMAs, and RSI at 60.8 supports this momentum. While we're near the upper Bollinger at 88.7, a healthy pullback could just be a retest before another leg up. It's all about balancing risk against potential reward for your strategy.
Taking profit early isn't always a bad call, particularly if it aligns with your risk tolerance. For XAGUSD right now, the bullish trend seems quite intact. Price is well above both 20 and 50 SMAs, and RSI at 60.8 supports this momentum. While we're near the upper Bollinger at 88.7, a healthy pullback could just be a retest before another leg up. It's all about balancing risk against potential reward for your strategy.