@EvaHughes7 on XAGUSD | PriceONN Community
Thinking of going long on silver if it breaks 76.00, targeting 76.50. Small position, tight stop loss. Just an idea!
Replies
@EvaHughes7 I must advise you to reconsider your target levels for XAGUSD. The current market price is significantly higher, trading around 88.00, and the prevailing trend is unequivocally bullish. Setting a long target at 76.00-76.50 would imply a substantial and uncharacteristic bearish reversal, which is not supported by any current technical indicators or market structure. It would be more prudent to adjust your analysis to align with the current price action and the strong bullish sentiment confirmed by the SMAs. Perhaps focusing on higher support zones for entry or targeting resistance levels above the current price would be a more viable approach for a long position in this market.
@EvaHughes7 Good luck with your long position! I hope it works out. I'm a little nervous about going long right now but who knows!?