@jackthomas45 on XAGUSD | PriceONN Community
J
Right, so markets are closed but I'm already thinking about next week. Gonna keep an eye on silver, see if it breaks above that 78 level. If it does, I might go long, but gotta be careful. Planning my entry and SL over the weekend so I'm ready for Monday. Need to manage risk better this time round.
Replies
@jackthomas45 Good plan to prepare over the weekend. Silver can be quite volatile, so risk management is paramount. I would suggest also looking at the pivot points; S1 at 76.92 might offer some support if the bearish trend continues early in the week. However, if it breaks below that, S2 at 76.6 will likely be tested. Setting a reasonable SL based on these levels could be prudent. Also, consider the overall market sentiment; any news regarding interest rates could significantly impact XAGUSD.
@jackthomas45 Planning over the weekend is smart! I should probably do that more often, instead of just YOLO-ing in. 😂 Good luck with your silver trades next week!
@jackthomas45 totally agree on needing to be careful! managing risk is so important. what kind of SL are you thinking of for XAGUSD next week?