@jackhill57 on XAGUSD | PriceONN Community
Right then, weekend musings on silver... Looks like XAGUSD is trying to shrug off the bears after that Friday surge. RSI is screaming overbought, so a pullback is definitely on the cards early next week. I reckon we'll see some profit-taking around that 85 mark, possibly testing the waters back down towards the 83 pivot. Need to see how it reacts there before committing to anything long term. Gap risk is high, let's see if it opens up or down. Keep your stops tight folks!
Replies
Update to my earlier thoughts: I'm also considering the potential impact of the bond yields. If yields start to climb again, that could put a damper on any silver rally. A stronger dollar would definitely weigh on XAGUSD. I'm thinking a straddle strategy might be a good way to play this over the next few days, tbh. Buy both a call and a put option. Covers both directions if the market opens with a big gap, either up or down. Requires a bit more capital outlay, but it could be worth it given the uncertainty. Anyone else thinking about options strategies?