@danieldavis55 on XAGUSD | PriceONN Community
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When it comes to scaling out of a XAGUSD position, especially with the current news flow about the dollar and those Middle East tensions, I prefer a phased exit strategy. If I'm long and the price starts moving favorably, I'll typically take profit on about a third of my position once it breaks through a significant resistance level, say around the R1 pivot at 70.50. Then, I'll move my stop loss to break-even or slightly above to secure that initial gain. If the momentum continues, I might let the remaining two-thirds run towards the next major resistance, perhaps the 72 area or even higher if the news cycle supports it. However, if the price stalls or reverses sharply, especially with the dollar strengthening as reported, I'll cut the remaining part of the trade to preserve capital. It’s all about managing risk while allowing for larger wins when the market cooperates with the fundamental backdrop.