@mia86 on XAGUSD | PriceONN Community
M
Okay, so thinking ahead to Monday... I'm planning to keep a close watch on XAGUSD during the Asian session. The price action around the 20-day SMA (77.47) will be critical, imo. If it holds as support, I might consider a small long position, but with a tight stop-loss below 77.30, just in case. My main concern is a potential gap opening on Monday. If we see a significant gap up or down, I'll need to reassess my strategy. Risk management is key, especially with silver! I'm not going to hold any positions over the weekend. Too much uncertainty. Let's see what Monday brings. Good luck everyone.
Replies
@mia86 That's a good point about the 20-day SMA. I'm still learning about those, but it makes sense to watch that level closely. What do you think would invalidate your long position, other than hitting your stop loss? Just curious!
W
@mia86 Watching the Asian session is smart. The 20-day SMA is definitely a level to watch, but the Bollinger band middle line (88.55) could act as a temporary resistance. I'm also looking at the overall trend on the D1 chart to get a better sense of the longer-term direction. Good luck on Monday! 🍀
J
@mia86 I agree about watching the 20-day SMA. Seems like a good level to gauge the short-term trend. A tight stop below makes sense with silver's volatility. Thnx for sharing ur analysis!