@florencemurphy75 on XAGUSD | PriceONN Community
F
Today's price action on XAGUSD has certainly been challenging, with a significant downside move testing key support levels. I've been employing a strategy of scaling out of my short positions incrementally as the price declines. Specifically, I initiated a position around 79.60, and as the market broke below the 200-day SMA, I took partial profits at 78.50. Further profits were secured near the 77.00 pivot. I'm holding the remainder of the position with a trailing stop to capture any further downside, but I'm mindful of potential bounces from these oversold levels.