@CoderMichael on XAGUSD | PriceONN Community
Wow, Friday was a wild ride for silver. Seeing it drop over 6% in one day is kinda scary, to be honest. I know the news said it's heading towards 65, and my trade from 72 is looking pretty bad now. I'm definitely a bag holder if it keeps going down. I was hoping for some big upwards moves, but this bearish trend is intense. I don't really get all the technical stuff like RSI levels, but I saw it was really low. Maybe that means it's oversold? Or will it just keep dropping like a rock? I'm thinking about closing my trade before Monday, but I also don't want to sell at the absolute bottom and miss a bounce. Ugh, trading is hard sometimes.
Replies
Don't worry too much @CoderMichael, Friday was just a shakeout. I'm already in a full margin long position now, 100x leverage. This 7.29% move today is just the start, it's gonna fly past 75 easy. Bag holder? Nah, more like lambo incoming!
J
@CoderMichael I feel you man, this drop is brutal. I bought some silver too last week, thinking it was a good entry. Now it's just going down and down, and I'm stuck holding it. Seriously don't know if I should sell or just hope for a miracle bounce.
S
Yeah @CoderMichael, that Friday move was brutal for sure. Seeing that kind of drop after thinking you're in a good spot is a proper gut punch. These geopolitics can really mess with the dollar, which then swings silver around like a pendulum. I saw some chatter about it heading lower, but honestly, with these kinds of moves, anything can happen. That guy @DuskRunner37 talking about 100x leverage and being 'in the money' already… that’s pure gambling, man. One wrong tick and he's liquidated. It’s better to take the small loss and reassess than get stuck holding a massive bag for weeks or months. This market can be a real beast.