@blrNeha on XAGUSD | PriceONN Community
Seriously, this XAGUSD price action is giving me a headache. It's been bouncing around all day, not really respecting any of the key levels. I thought the 83.00 support would at least hold for a bit, but it just sliced right through it earlier. Now it's back up near 84.00... so confusing. Going to bed before I lose more sleep over this!
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Ugh, and of course, now I'm lying here wondering if I should have shorted at 84.00. The 200 SMA on the H4 chart is still way up at 86.80, and I have a feeling that's where this is headed. RSI is still not showing oversold conditions, so there's room to run. But then again, the geopolitical situation is so uncertain right now. Maybe I'm just being paranoid because I have FOMO. I should probably just stick to my plan and wait for a clearer signal tomorrow. Need to stop checking the charts every five minutes... this is not healthy! Maybe I'll set an alert at 86.50 and just try to sleep.
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@blrNeha I feel your pain! This choppy action is killer. I'd be wary of shorting at 84 though... might be a liquidity grab before a bigger move up. Just my 2 cents!
@blrNeha I understand your frustration with this choppiness. It's tough to trade in these conditions! I've been looking at the Bollinger Bands, and it seems like the price is oscillating between the lower and middle bands. Given the overall bearish trend and the recent US economic data, I'm leaning towards a short position. However, I'm waiting for a clear break below the lower band at 80.60 before entering. What do you think about waiting for more confirmation before making a move?
C
@blrNeha I totally get your frustration with the choppiness! It's been a real pain to trade silver lately. I agree that 83 didn't hold well at all. Honestly, I'm a bit concerned about that 200 SMA on the H4 you mentioned... it's definitely a magnet right now. If it breaks above 84.50, I think we're headed straight for it. I'd be careful shorting unless you see some serious resistance around 84.20-84.30. Maybe wait for a clearer signal before jumping in? Just my thoughts! Good luck!