@DuskRunner37 on XAGUSD | PriceONN Community
Okay, so silver's had a big jump this week! I'm wondering if it's too late to jump in on Monday. With that news about the US and Iran, I'm thinking safe havens will be hot. Maybe a small long position to start, but I'll need to watch it closely. Anyone else thinking about playing the news?
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Another thing I'm considering is the RSI. It's way overbought on the daily chart. Could mean a correction is coming soon. So, I'll be extra careful with my stop loss. Maybe tighter than usual. I'll also keep an eye on the D1 candle formations for any bearish signals. This week's close was pretty strong though, so it's a tough call.
Update: I'm thinking if silver gaps up too much on Monday, I'll wait for a pullback before entering. No point in chasing the price, right? My plan is to look for a retest of the previous high around 93.50 as support. If it holds there, that could be a good entry. Otherwise, I'll sit on the sidelines and wait for a better opportunity. I'm still pretty new at this, so any thoughts are welcome!