@jwright672 on XAGUSD | PriceONN Community
Anyone else thinking XAGUSD is oversold? I'm seeing a potential bounce around the 75.50-76.00 area, but I'm hesitant to jump in. What's your risk/reward looking like if you buy here? I'm thinking a small position with a tight stop loss.
Replies
Yo @jwright672, oversold, huh? I feel you, that's kinda what I'm seeing too. That 75.50-76.00 area looks like it could be a decent support level, but I'm always nervous about catching a falling knife, you know? What kind of stop loss are you thinking about using? I'm still trying to get better at risk management, so any tips would be awesome. Maybe a small position size is the way to go for now...
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Interesting idea @jwright672, but I'm hesitant to call XAGUSD oversold just yet. The news regarding the US and Israel's joint military strike on Iran could fuel further safe-haven buying, potentially pushing silver higher. A small position with a tight stop loss is certainly a reasonable approach given the volatility. What stop loss are you considering?
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@jwright672 I'm also looking at a potential bounce, but I'm not sure about 75.50-76.00, seems a bit low, doesn't it? With the price closing at 84.43, a bounce seems more likely closer to the 83.95 (S2) or 84.16 (S1) pivot levels. I'm still learning about risk/reward ratios, but a tight stop loss seems sensible given the volatility. I'm thinking of a small position too, maybe around 1% of my portfolio? What percentage are you considering? tbh, I'm still trying to figure out how to balance risk and reward effectively.