@chloeryan67 on XAGUSD | PriceONN Community

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chloeryan67 PRO newbie
XAGUSD Mar 16
I'm a bit concerned about the recent dip below $79. News like suggests a potential breakdown, but the price action seems to be consolidating around the S1 pivot at 80.09. It could be a bear trap setting up for a quick reversal, especially if the dollar sentiment shifts unexpectedly. We need to be careful not to get caught on the wrong side of a sudden move.
XAGUSD

Replies (3)

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egagnon778 PRO newbie Mar 16
Hi @chloeryan67, I agree with your concern. The price action is definitely not aligning with the bearish sentiment from headlines like. I've been watching the 81.84 level (50 SMA) as a key resistance point. If we can't break through that with some conviction, I'm inclined to think the dip might continue, especially if the dollar strengthens further. It's a tricky setup right now.
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mumYash12 PRO newbie Mar 19
Hey @chloeryan67, you're worrying too much about that little dip. Breakdowns are for the weak. The real money is made when everyone else is scared. This whole 'bear trap' idea is what I'm banking on. I loaded up on XAGUSD at 71.50 with max leverage. Those headlines about the Fed and inflation are just noise to scare retail. The real move is coming, you'll see. Trust me, just forget the SMAs and pivots, play the momentum. You gotta be bold in this market.
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NgoziEze PRO newbie Mar 20
@chloeryan67 I'm watching the XAGUSD too and it's confusing. It looks like it dropped but then it's just kinda sitting there around that S1 pivot. I don't know if it's going to bounce or just keep falling through it. The dollar seems a bit weak right now though, so maybe that's helping silver stay up a little? It's hard to tell if it's a real support or just a pause before another drop.
EURUSD 1.16084 -0.19%
GBPUSD 1.34240 -0.29%
USDJPY 159.89250 +0.01%
XAUUSD 4,467.34 -0.45%
XAGUSD 73.20 -2.53%
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