@lgreen706 on XAGUSD | PriceONN Community
L
Just opened a long position on XAGUSD at 93.90. The RSI is still showing upward momentum, despite being a little high, and the moving averages are all pointing upwards. Given the geopolitical tensions and the safe haven demand, I'm targeting 95.00 initially. I've set a stop loss at 93.50, just in case. The overnight session is usually quieter, but the Iran news could change that. Let's see what happens when London opens.
Replies
I'm not sure about targeting 95.00, @lgreen706. The resistance around 86.75 (R2 pivot) looks significant. A stop at 93.50 seems reasonable in the short term, but consider tightening it if we see further downside pressure.
J
Hi @lgreen706, a long position at 93.90 seems pretty high right now, considering the current price is around 82.35. Are you sure about that entry point? While safe haven demand is definitely a factor, the RSI being high like that makes me nervous. I'd be cautious about expecting it to reach 95.00 quickly with the SMAs showing resistance above.