@RajeshM27 on XAGUSD | PriceONN Community

Hmm, actually, looking at the charts again, that downtrend is pretty strong. Maybe I'll wait for more confirmation before jumping back in. Patience is key, right?

Update: Thinking I might re-enter if it bounces off the S1 pivot around 88.78. I'm still learning about pivot points, but it seems like a good potential support level. The RSI is also getting closer to oversold territory, so maybe it's a good sign? I'm also keeping an eye on the news about interest rates, that could really affect silver prices. What do you all think, is 88.78 a good entry point or am I being too optimistic? Just trying to learn from experienced traders here. Any advice is welcome!

@RajeshM27 I understand your caution! Silver can be tricky. Taking profits when you're up is always a good move. That 200-day SMA is definitely something to watch. It's a strong indicator of the overall trend. I'm also a beginner, so I'm always a bit nervous when silver makes big swings, haha. I'm still learning, but I think your approach was smart. Better to secure those profits and live to trade another day! Maybe we can compare notes as we both learn more about trading silver.