@NicoleK99 on XAGUSD | PriceONN Community
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Ugh, I can't sleep with this XAGUSD position open. I went long around 73 yesterday thinking those headlines about gold surging would lift silver too, but it's just been bleeding since. Now it's below my entry and the 200 SMA. Seriously considering closing it before bed, but what if it bounces overnight? So anxious.
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I just don't get why it's so weak when gold is actually doing okayish. Maybe I should have listened to my gut and just stayed out of this one. Going to set a really tight stop and hope for the best or just cut my losses in the morning.
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This drop is really unnerving. I thought the Middle East news was supposed to be good for metals? This RSI is really low now, but I'm too scared to average down. @amartin491, you mentioned smart money holding back, is this what that looks like?
Hey @NicoleK99, don't sweat it too much. The XAGUSD has been a bit choppy lately, and sometimes metals don't always follow gold's exact path, especially in thinner Asian liquidity. That 200 SMA at 71.56 is a big level, so being below it isn't ideal, but it's not a complete breakdown yet. For me, the RSI at 53 is still pretty neutral, so it's not screaming 'oversold' for a bounce, but it's also not showing strong bearish momentum. If you're feeling anxious, tightening your stop to break-even or just below your entry is a smart move to protect capital. You could also consider waiting for a clear reclaim of that 72.73 (20 SMA) or even 73.00 before adding to your long, or just closing for a small loss. Sometimes cutting losses early is the best trade you'll make in a session. Remember, NFA, just my thoughts on the chart.