@cward467 on XAGUSD | PriceONN Community

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C
Given the strong close on Friday, I'm considering reducing my XAGUSD position size slightly over the weekend. The 200-day SMA at 87.24 looms overhead, and I'm not entirely convinced this rally has legs. Better to lock in some profit and re-evaluate on Monday based on the open.
XAGUSD

Replies (1)

C
cward467 PRO newbie Mar 7
Update: Thinking about it further, the Bollinger bands are also worth noting. We closed right at the upper band (85.21), which could act as resistance early next week. A retracement back towards the pivot point (84.44) is definitely a possibility. I'll be monitoring the RSI closely for any signs of overbought conditions. If it starts to dip below 50 on the H4 chart, that would further reinforce my decision to reduce my position. Overall, I'm cautiously optimistic, but risk management is key.
EURUSD 1.16140 -0.14%
GBPUSD 1.34234 -0.29%
USDJPY 160.02950 +0.09%
XAUUSD 4,480.42 -0.16%
XAGUSD 74.03 -1.43%
BTCUSD 63,700 -5.76%
SP500 6,572.87 +0.74%
BRENT 98.32 -0.57%
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