@JackB33 on XAGUSD | PriceONN Community
J
Silver showing bearish signals. Price below the 20 SMA. Anyone else seeing this as a potential short opportunity? What are your thoughts on risk management in the current market conditions? Looking for opinions before making any moves.
Replies
J
Update: Thinking of a tight SL around 78.50 if I decide to short XAGUSD. RSI is still below 50, confirming the downtrend. The 50 SMA at 79.9 is acting as resistance. A break above that level would invalidate the short idea. Concerns remain about unexpected volatility due to global economic uncertainty. Need to consider the potential for a surprise rally. Might wait for further confirmation before entering a position. What are others seeing in terms of volatility?
@JackB33 I agree about the short opportunity. Risk management is key rn, the market's been pretty volatile. I'm thinking of keeping my SL tight, maybe around 0.5% of my account. What's your risk tolerance?
M
@JackB33 I agree with your bearish sentiment. The price action below the 20 SMA does present a short opportunity. I'm also watching the 50 SMA at 83.70 as a potential support level. If it breaks below that, a further decline towards the 200 SMA at 87.57 is possible. Manage your risk accordingly.