@emilyjones85 on XAGUSD | PriceONN Community
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Evening all. Watching XAGUSD here. Given the chop today and yesterday's news about ceasefire hopes fading, I'm sizing my long position very cautiously. Aiming for a small scalp near the S2 pivot at 72.13. Risk management is key with this volatility.
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If this S2 level holds and we get some follow-through, I'll look to take profits quickly. Not expecting a massive move, just a quick bounce.
Hey @emilyjones85, I saw your comment about the S2 pivot. I'm also watching silver nervously today, it's been so choppy. I bought a bit at like 72.50 yesterday and now it's below that. Seeing your comment about 72.13 makes me wonder if I should even hold or try to average down if it hits that. My gut just screams 'sell' because my loss is getting bigger, but then I think about that news about Middle East ceasefire hopes fading and if that's supposed to push silver up again. It's so confusing. Do you think it'll actually bounce from 72.13 or just keep dropping? I'm scared I bought at the top again.
Hey @emilyjones85, I see you're aiming for S2 at 72.13, but based on the current price action and where the 200 SMA is sitting around 70.79, I'm a bit skeptical. The market seems to be really struggling to break above that 70.50 level, and with the ongoing Iran tensions still in the background, I'm worried any upside move could be short-lived. If we can't clear the R1 pivot cleanly, I think we might see a retest of the 50 SMA at 69.40 or even dip down to S1 at 69.63. I'm personally staying out of longs for now, waiting for a clearer signal. Maybe it's safer to just watch this choppy price action unfold without getting caught in the middle, especially with volatility from that news we saw earlier.