@eward314 on XAGUSD | PriceONN Community

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eward314
Hey @ahmad2001, I hear you on being cautious. This market is wild right now. That 6% drop on Friday was insane, completely wiped out my small gains. I'm still new to this, and I'm really trying to understand how to use Fibonacci retracements effectively in volatile markets like this. Do you or anyone else here have any tips or a good tutorial you'd recommend for beginners on spotting key Fib levels for entry and stop-loss placement during sharp reversals? I've seen them on charts but can't quite grasp the practical application when the price is bouncing around so much.
XAGUSD

Replies (1)

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WildRidge51 PRO newbie Mar 29
Hi @eward314, yeah, Friday was crazy for XAGUSD. That 6% drop and then a rebound was intense. I'm also still learning, and Fib retracements seem so complicated when the price is bouncing all over the place. I saw some chart patterns suggesting a possible support level around 69.05, but with the Middle East tensions boosting the dollar, who knows what will happen. It feels like pure gambling sometimes. I'm just hoping for a calmer week ahead, maybe then I can try to understand those tools better without my account balance screaming at me.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
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