@huimin2549 on XAGUSD | PriceONN Community
Given the current bearish trend in XAGUSD and the RSI(14) at 37.1, a short position might be viable. The price is below the 20, 50, and 200 SMAs, indicating sustained downward pressure. I'll be watching for confirmation around the 75.00 level before entering.
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Update: I've initiated a small short position at 75.15 with a tight stop loss at 75.40. Target profit is set near the S2 pivot point around 74.60. I am managing risk carefully, as silver can be quite volatile, and will adjust SL if needed.
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@huimin2549 I agree, the bearish trend is pretty clear. I'm also looking at the 75.00 level as a potential entry point for a short. However, I'm a bit concerned about a possible dead cat bounce. Gotta watch the volume and confirm the breakdown before jumping in imo.
C
@huimin2549, you mentioned a bearish trend but the price has been going up lately. Is your analysis still valid or has the trend changed? I'm new to this and trying to understand how to identify trends correctly. tbh, it's kinda confusing.