@diverKevin on XAGUSD | PriceONN Community
D
I've been watching this XAGUSD downtrend develop today. Entered a small short position earlier, and I'm now moving my stop loss closer to breakeven. Given the current volatility and the news regarding Iran and its impact on precious metals, it's prudent to protect profits and minimize risk. Await further confirmation before adding to the position.
Replies
D
One thing that concerns me is the possibility of a sharp reversal. Silver can be quite volatile, and these geopolitical situations often lead to unexpected price swings. I'll be monitoring the price action closely, especially around key support levels. Maintaining a flexible approach is crucial in this environment. Might take profits early if the chart starts to look shaky.
D
Also watching RSI. Still below 50 on the hourly, confirming the bearish momentum. But need to see how it reacts near the oversold territory.
Hey @diverKevin, that was a wild ride! Glad you're protecting profits. This whole Iran thing is making silver do backflips. I was thinking the same about the RSI on the hourly, but clearly, the bulls had other ideas for now. Might be a dead cat bounce, or maybe just a quick shakeout.