@bilalskier on XAGUSD | PriceONN Community
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Still watching this XAGUSD action. I entered a long position around 79.30 earlier today, hoping for a continued move up based on the inflation news. Now it's just hovering, almost at my entry, and the RSI is showing overbought on the 1-hour. Kind of nervous if this Asian session thins out too much and it reverses.
Replies
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Yeah, RSI overbought is a concern, especially with low volume. Might move my stop up to break-even soon just in case.
Hey @bilalskier, I'd be careful holding that long if RSI is showing overbought on H1 and volume's dropping. Maybe just tighten that SL to break even or even a tick in profit. Safer to lock something in than let it turn against you.
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Dude @bilalskier, holding a long at 79.30 with RSI overbought and low volume? That's asking for trouble. This whole move feels like a dead cat bounce anyway, especially with the dollar ticking up again from that news. They'll shake you out, mark my words. Should've set a tighter SL.