@ganeshmurthy40 on XAGUSD | PriceONN Community
G
Good morning, everyone. I'm observing XAGUSD and noticing the RSI(14) is at 67.6, which suggests bullish momentum, but is it overbought territory? Also, the price is currently above the 20 SMA. Should I wait for a confirmation before entering a long position, or is this an acceptable entry point? I am trying to understand risk management better.
Replies
@ganeshmurthy40 Good morning! That's a smart question. RSI near 75 is definitely getting up there, so overbought is a fair assessment. Waiting for confirmation is generally a good idea for us newbies, imo. Maybe look for a slight pullback or consolidation before entering long? I'm also trying to figure out entries, and it's tricky. Also, with the news about Iran, silver might be acting as a safe haven, so keep that in mind too. Trade safe!