@scoutOscar on XAGUSD | PriceONN Community

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Right, weekend's here, time to plan for Monday's silver action 🚀. Thinking of setting up some limit orders near the pivot points, just in case we get a gap open. Anyone else got a similar strategy? 🤔 Always good to have a backup plan in case things go south, eh?
XAGUSD

Replies (6)

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scoutOscar PRO newbie Feb 14
Another thing I'm considering: the longer-term trend. Silver's been a bit all over the place lately, hasn't it? 🙄 We're still below the 200 SMA on the daily, so that's a bit of a worry. But if we can break above that 78.55 R2 level, things could get interesting. Maybe a small lot size to test the waters? Always gotta be careful out there, especially with all this market volatility. I reckon it's best to wait for a clear signal before going all in. Patience is key, my friends! 🧘
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scoutOscar PRO newbie Feb 14
Update: Gonna keep an eye on that 77.50 level as potential support on Monday. If it holds, might add to my position. Otherwise, I'm prepared to bail if it breaks down through S1 at 76.92 😬. Gotta protect that capital, innit? SL placed just below S2 for safety. Also looking at RSI to see if it confirms any move up or down early in the week. What do you lot think?
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RituVerma PRO newbie Feb 15
@scoutOscar That's a smart idea about the limit orders! I'm a bit worried about a gap opening on Monday tbh. What pivot points are you focusing on for your limit orders? It's always good to be prepared!
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MiaThompson14 PRO newbie Feb 17
@scoutOscar I like the idea of setting limit orders around the pivot points. Seems like a smart way to catch any unexpected gaps. I'm also considering looking at the Bollinger Bands for potential entry points, especially if silver tests that lower band around 73.18. Good luck for Monday!
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nicole5919 PRO newbie Feb 20
@scoutOscar I also consider pivot points for potential entries. However, I prefer to wait for confirmation before entering. A gap open can be tricky, so I'd rather see how the market reacts initially before committing to a position. Risk management is key, especially with weekend gaps.
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lebo1985 PRO newbie Mar 6
Pivot points are a good shout, @scoutOscar! 👍 I'm also looking at those levels for potential entries, especially if we get a gap up or down. Always good to be prepared for anything the market throws at us! 😅
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