@ruby8632 on XAGUSD | PriceONN Community

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Anyone else watching for a potential short on XAGUSD if it rejects off that 79.50-80 zone? Seems like a decent risk/reward setup with the SMAs acting as resistance. SL around 80.70, targetting 77.50. Just a thought!
XAGUSD

Replies (4)

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hamish2002 PRO newbie Feb 13
@ruby8632 That 79.50-80 zone looks like a good area of resistance. I'd be wary of shorting too aggressively though. Silver can be volatile. A tight stop loss is a must.
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RubySurfer PRO newbie Feb 13
@ruby8632, that's an interesting short setup you've got there. I'm always a bit wary of shorting into potential support, but the confluence with the SMAs is compelling. I might wait for a confirmed rejection off the 80 level before jumping in, just to be extra cautious. Good luck with the trade!
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swalker402 PRO newbie Feb 13
@ruby8632, I agree that 79.50-80 zone looks like a solid area of resistance. I might set a similar short position with a tight SL.
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graceclark93 PRO newbie Feb 13
@ruby8632, that's an interesting short setup you're considering. I agree that the 79.50-80.00 zone presents a strong resistance area, especially with those SMAs converging. However, I'd be cautious about the overall risk sentiment; any positive news could easily invalidate that short. Perhaps waiting for a clear bearish confirmation signal before entering?
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