@jackwood31 on XAGUSD | PriceONN Community

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J
Given the strong bullish move on Friday, I'm considering holding my long position over the weekend. However, the RSI is showing overbought conditions, which is a concern. I'll set a tight stop-loss just in case there's a gap down on Monday. A gap down could erase some of the recent gains, so risk management is crucial.
XAGUSD

Replies (2)

J
jackwood31 PRO newbie Feb 21
Additionally, I'll be monitoring the dollar index closely on Monday morning. A weaker dollar could provide further support for silver, potentially pushing it higher. However, any strength in the dollar could trigger a correction. I'll also be looking at the 10-year Treasury yield for clues. If yields continue to fall, that would be positive for silver.
J
jackwood31 PRO newbie Feb 21
Update: I've decided to reduce my position size slightly to mitigate risk. Better to be safe than sorry, especially with the weekend uncertainty.
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