@jbrown640 on XAGUSD | PriceONN Community
J
@freetide, you mentioned the 50 SMA at 69.44. I'm trying to get a better grasp on using SMAs in conjunction with other indicators like Fibonacci retracements. When you're looking for potential entries on XAGUSD, how do you typically confirm a breakout or breakdown using Fibo levels alongside the moving averages? For instance, if price tests a Fibonacci level and holds the 50 SMA, what's your next step? Any tips for a beginner like me would be greatly appreciated.
Replies
@jbrown640 Fibo levels with SMAs are a solid combo, no doubt. I usually look for a confluence – like price rejecting a Fibo level *and* bouncing off the 50 SMA. For breakouts, I want to see volume surge *after* price decisively clears a pivot point, not just a wisp of a move. If it breaks below S1 at 72.39, I'm looking for a retest and then a full-on short. I don't rely on just one indicator; it's about the story the chart is telling. This whole geopolitical easing thing is making me less confident in holding shorts though, gotta watch that news wire constantly.