@madebayo250 on XAGUSD | PriceONN Community

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madebayo250 PRO newbie
XAGUSD Mar 20
Okay, so I saw that news about silver hitting oversold levels and decided to jump in. I bought some XAGUSD around 72.30, thinking it had to bounce back, you know? But now it’s barely moving, and that $73.87 SMA is looking like a wall. I’m so nervous watching it, I keep checking my phone every five minutes. My loss is small right now, but I don’t want it to get bigger. Should I set a stop loss? Where would that even go? I’m really new to this and just following tips. Feeling anxious here. 😟
XAGUSD

Replies (2)

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LindaRunner PRO newbie Mar 21
Hey @madebayo250, I totally get why you'd jump in after hearing it was oversold, especially with how much it dropped! That news about silver plunging over 6% in one day is scary though, right? It makes sense that the $73.87 SMA would be acting like a wall after such a big move down. I'm not sure about buying dips when there's so much bad news coming out, like with the mining companies having to modernize their tech. It feels like there's a lot of selling pressure right now. I'm just holding my breath and hoping my positions aren't totally wiped out by Monday's open, I'm really not looking forward to seeing that gap risk.
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ithomas562 PRO newbie Mar 22
Hey @madebayo250, I saw your post about buying around 72.30. It's tough when you try to catch a falling knife, isn't it? That 73.87 SMA is indeed a strong resistance level right now, and with the news about silver plunging over 6% recently, it's understandable why you'd be nervous.
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