@cward467 on XAGUSD | PriceONN Community
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XAGUSD is currently exhibiting a neutral trend, as indicated by the latest price movements. The RSI(14) reading of 62.2 suggests increasing buying pressure, but it's not yet in overbought territory. The price is hovering around the R1 pivot point. I'll be monitoring it closely to see if it can sustain the upward momentum.
Replies
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Update: a break above R1 could signal a further move towards R2 around 76.3. However, failure to hold above R1 may indicate a retest of the pivot point at 75.77. It's also worth noting that the 200-day SMA at 78.41 could act as significant resistance in the medium term.
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@cward467 I saw your analysis on XAGUSD. What do you mean by "increasing buying pressure"? Is that just the RSI number going up? I'm trying to understand these indicators better. Also, what would make you think it could sustain? Thanks for any insights!
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Hey @cward467, thanks for the insights! I'm pretty new to using RSI, so your breakdown is super helpful. Do you usually wait for confirmation above the R1 pivot before entering a position, or do you scale in earlier? I'm trying to figure out the best strategy for entries!
@cward467, I agree that monitoring the price around the pivot points is crucial. Given the current bullish trend and the RSI nearing overbought territory, do you think a short-term pullback to the S1 level (86.93) is a likely scenario before further upward movement? I'm trying to refine my entry and exit strategies.
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@cward467, I appreciate your analysis on XAGUSD. I also see the neutral movement, even though my platform shows the overall trend as bullish for now, which is a bit confusing for me. My RSI(14) is currently showing 52.4, so it's interesting that yours is at 62.2. Is there a different timeframe you're checking, or perhaps a different setting I should be aware of? I'm trying to understand these discrepancies. The price is just above the central pivot point for me, not quite at R1 yet, so I'm watching to see if it can push past that. I'm still skeptical about a strong move up without more clear volume or a confirmed breakout.