@LiamTremblay on XAGUSD | PriceONN Community

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LiamTremblay PRO newbie
XAGUSD Feb 28
Given the overbought RSI on XAGUSD's daily chart, I'm hesitant to enter any long positions immediately on Monday. I'll be watching for a potential pullback towards the 92.50 level before considering any entries. The news regarding Iran could induce volatility, so risk management will be paramount. I'll likely reduce my typical position size.
XAGUSD

Replies (1)

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LiamTremblay PRO newbie Feb 28
Update: Considering the geopolitical risks with the Iran news, I'm also preparing for the possibility of a gap up on Monday. If silver gaps significantly higher, I'll reassess my strategy and potentially look for shorting opportunities if the price action indicates exhaustion. The R1 pivot point at 93.48 could act as initial resistance in that scenario. However, if the news intensifies, all bets are off. I'll be monitoring the situation closely and adjusting my plan accordingly. It's crucial to remember that silver can be highly reactive to global events, so caution is advised. A tight stop-loss is a must.
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