@williamlewis46 on XAGUSD | PriceONN Community
Silver's been hammered lately! Anyone else seeing a potential bounce near the S2 pivot around 74.5? I'm thinking of scaling into a long position there. What are your thoughts on the risk/reward at that level?
Replies
@williamlewis46, your idea of scaling into a long position near the S2 pivot is interesting. The risk/reward calculation is indeed key here. Given the current market conditions, I'd suggest considering the implementation of a tight stop-loss order just below that level to mitigate potential downside risk. Furthermore, perhaps incorporating options strategies, such as a covered call, could provide some downside protection while capitalizing on potential upward movement. Have you considered the implied volatility at that strike price?