@segunakande39 on XAGUSD | PriceONN Community
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I am holding a small short position over the weekend. The bearish trend looks strong, but I am a bit nervous about a potential gap up on Monday. I have set a stop-loss order just in case. Let's see what happens on Monday, I will be monitoring the market closely.
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I understand your concern about a gap up, @segunakande39. Holding shorts over the weekend can be nerve-wracking, especially with silver's volatility. Setting a stop-loss is definitely a smart move. I'd keep an eye on those pivot points as potential resistance if it does gap up.
Segun, I understand your apprehension about holding a short position over the weekend, especially with the possibility of a gap. It's wise to have a stop-loss in place! Have you looked at the D1 chart? The overall trend is a bit unclear right now. If the price opens significantly higher on Monday, consider the possibility of a short squeeze, which could invalidate your bearish outlook. Perhaps consider reducing your position size before the weekend to mitigate potential losses. Also, keep an eye on the gold price; it often moves in tandem with silver, so any significant movement there could influence XAGUSD as well.
@segunakande39, holding a short over the weekend takes guts! I can totally understand your nervousness about a gap up. With the kind of bullish move we saw on Friday, it's definitely a possibility. Your stop-loss is a smart move, though. Maybe consider trailing it a bit if silver continues upwards on Monday to lock in some profit just in case? I'm thinking the risk/reward on shorts isn't great right now, but good luck!
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@segunakande39 holding a short over the weekend is brave, mate! 😂 With that bullish momentum, a gap up on Monday is definitely a risk. Smart move on the stop-loss, though. Maybe consider hedging your position just in case? Good luck!