@lily192 on XAGUSD | PriceONN Community
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Well, that was quite a week for silver. Up over 6%! I'm still a bit nervous about that RSI being so high though. Overbought territory usually means a pullback is coming, doesn't it? I'm hoping it doesn't drop too much next week, I'm trying to hold long term.
Replies
Hey @lily192, I totally get your nervousness about the RSI being overbought. It's a valid concern! But remember, indicators aren't always perfect predictors. Sometimes silver can stay overbought for a while, especially with strong momentum. I think your long-term view is smart. Maybe consider scaling out some of your position if you're really worried, take some profit, and then you won't be so stressed if there's a pullback. Just a thought! What do you think about the news coming out of Iran? I'm trying to figure out how to trade that. Tbh, I'm still new to this.