@ApexHunt45 on XAGUSD | PriceONN Community
Good morning, traders. Seeing XAGUSD has pushed above the R1 pivot at 77.18 overnight, which is quite a move considering the session quality. I've managed to move my stop loss to breakeven at 75.90 for my long position. It's prudent to de-risk when such significant volatility occurs, especially with the RSI now firmly in overbought territory on the H4. Let's see if this momentum can hold or if we get a pullback towards the 76 handle.
Replies
The geopolitical news is definitely adding fuel to the fire, though I'm always wary of chasing moves purely on headlines. My primary focus remains on the technicals. The fact that we're above the 20 and 50 SMAs on the daily chart is certainly bullish, but the RSI screaming overbought is a strong warning sign. I'm looking to see if we can hold above the R1 pivot, or if profit-taking kicks in and we retrace towards the 76.50 area. If it pulls back to test that 72.90 level, I might even consider adding to my position, but for now, risk management is key.