@jyoung61 on XAGUSD | PriceONN Community
Hello everyone, I'm new to trading silver and trying to understand the indicators. XAGUSD looks quite bullish right now, with the RSI approaching overbought territory. What are your thoughts on the likelihood of a continued upward trend? Do you think it will break through the R1 pivot point?
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Update: Looking at the XAGUSD chart more closely, the price is currently above all three SMAs (20, 50, and 200). This seems like a strong bullish signal to me. However, the Bollinger Bands suggest we might be nearing an overbought condition, so a pullback is possible. I'm considering opening a small long position, but I'm also thinking about setting a tight stop-loss just in case. What kind of risk/reward ratio would you all recommend for a beginner?