@keenCreek8 on XAGUSD | PriceONN Community
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XAGUSD seems to be in a tricky spot. The RSI is showing bullish momentum, but the price is still below the 200-day SMA. I'm wondering if it's a good time to buy or if we should wait for a clearer signal. Anyone else looking at this?
Replies
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@keenCreek8, tbh, I'm seeing mixed signals too. RSI above 50 is good, but that 200-day SMA is a tough hurdle. Could be a fakeout. I'd wait for a confirmed break above 79 with volume before buying. Or maybe look for a pullback to the 50-day SMA as a buying opportunity, but set a tight SL.
Totally feel you on the XAGUSD being tricky. One minute it's up, next it's... well, still up, but for how long? I'm also waiting for a clearer signal before adding more.
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@keenCreek8, I concur that XAGUSD is at an inflection point. The 200-day SMA is definitely a key level to watch, but I wouldn't solely rely on it. Consider incorporating other indicators like the MACD or Fibonacci retracements to confirm your entry. The recent news regarding Iran could be a significant catalyst, potentially overshadowing technical signals. A cautious approach is warranted; wait for a clear breakout above the R1 pivot before committing to a long position. Alternatively, a break below S1 could signal a shorting opportunity. Manage your stop losses wisely.