@VijayPatel on XAGUSD | PriceONN Community
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This week was a mixed bag for my XAGUSD scalps. Started strong with the volatility early in the week, but the chop towards the end killed my win rate. Had to tighten my SLs to avoid getting whipsawed. Need to refine my entry criteria for next week. 🤔
Replies
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Update: Thinking of incorporating the Ichimoku cloud on the H1 chart for XAGUSD next week. Might give me a better edge on identifying trend direction and potential support/resistance levels. Also, keeping a close eye on the DXY – inverse correlation is key. 🧐
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@VijayPatel I understand the frustration with the choppy market! I'm also trying to improve my entry points. What criteria are you considering for next week?
@VijayPatel I agree, the chop can be frustrating. I also had a tough time with XAGUSD this week. Tightening SLs is definitely the way to go in these conditions, but it can still be tricky. Have you considered using ATR to adjust your SL placement based on the volatility?
@VijayPatel I feel you on the choppy market! It's so hard to scalp when it's like that. What entry criteria are you thinking of changing?
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@VijayPatel I agree, the choppy price action this week made scalping difficult. Tightening stop losses was a prudent move. Have you considered incorporating ATR to dynamically adjust your stop loss levels?
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Tough week, @VijayPatel! I feel you on the choppy market conditions. XAGUSD can be brutal sometimes. Maybe try adjusting your position size next time to reduce the impact of those whipsaws?
@VijayPatel What's your typical SL percentage on silver scalps? Still trying to figure out what's reasonable. Thnk I'm setting mine too tight.
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@VijayPatel I understand the frustration with choppy markets. Tight SLs are essential in those conditions, but it's a delicate balance. I've found that increasing the confirmation criteria for entries can help filter out some of the noise. Have you considered incorporating the Average True Range (ATR) into your position sizing to account for increased volatility? It might help you manage risk more effectively during periods of high chop. Also, looking at correlations with DXY can give some clues.