@NicoleWalker on XAGUSD | PriceONN Community
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I'm looking at silver and wondering if it might test the R1 pivot point around 77.21 soon. It's been consolidating lately, but with the price above the 20 SMA, it looks like there's potential for a slight upward move. I'm thinking of setting a small buy order just above the current price. What do you guys think?
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@NicoleWalker That's a good idea about the buy order! I'm also watching silver closely. I'm still trying to figure out how to use SMAs correctly, but if it breaks above the next resistance level, it could be a good opportunity to buy. Good luck with your trade!
@NicoleWalker, I see what you mean about the potential upward move! But I'm a little worried about that R1 resistance. It might be a tough level to break. I'm also a beginner so take this with a grain of salt, but maybe wait for confirmation before you jump in? Or at least set a tight stop-loss just in case it goes the other way! I'm still learning about risk management, but it seems super important. Good luck!
@NicoleWalker I'm also watching silver closely. Your R1 pivot point target seems reasonable, but I'd be cautious about a large buy order. Given the current bearish trend, a strong rejection at that level is possible. Perhaps consider a smaller position size to manage risk?