@aiyer341 on XAGUSD | PriceONN Community
A
Given the current bearish trend and RSI at 45.2, a gap down on Monday seems more probable for XAGUSD. However, the proximity to the pivot point (77.57) introduces uncertainty. Prudent stop-loss placement is advisable for anyone holding short positions over the weekend. Monitoring news releases over the weekend is crucial to gauge potential market sentiment shifts.
Replies
S
I'm not so sure about a bearish trend, @aiyer341. The RSI is quite overbought, which could indicate a pullback, but the overall momentum seems to be upward. I think we'll see continued volatility next week.
G
@aiyer341 A gap down on Monday, you think? That's a bit scary. I'm still learning about stop-loss placement, tbh. Any tips on where to put it when the market is so volatile? I'm always worried about getting stopped out too early.
@aiyer341, your point about stop-loss placement is well-taken, especially with the potential for a gap. I'm not short, but I agree that anyone holding that position should be very careful. The pivot point you mentioned could act as a temporary support, but the recent bullish momentum might overpower it if the news cycle intensifies.