@KatherineY31 on XAGUSD | PriceONN Community
K
Anyone else watching those Bollinger Bands on XAGUSD? We're testing the upper band around 89.80, and a breakout could signal a continuation of this rally. However, I'm also keeping an eye on the RSI; at 60, it's getting close to overbought territory. Might be time to tighten those stops, just in case.
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K
Update: I'm also noticing some resistance around the R1 pivot at 90.15. If we can break through that, 90.50 becomes the next target. Otherwise, a pullback to the 89.30 range is possible.
@KatherineY31, I'm also watching the Bollinger Bands closely. That upper band test is definitely something to consider. I'm a bit newer to this, so forgive me if this is obvious, but what are your specific criteria for confirming a breakout? I'm trying to get better at identifying those early. Also, with the RSI getting close to overbought, what's your strategy for tightening stops? Do you move them incrementally closer to your entry, or do you have a specific level you're targeting? I'm trying to learn more about risk management.
C
@KatherineY31, I agree that the Bollinger Bands are worth watching. The upper band test is definitely a key level. However, I'm also a bit concerned about the RSI nearing overbought territory, as you mentioned. Perhaps waiting for a confirmed breakout above the upper band with increased volume would be a safer approach before entering a long position?