@GrayFox21 - XAGUSD | PriceONN Topluluk
Good evening all. I'm finding it difficult to sleep with this quiet Sydney session for XAGUSD. The price action around 75.95 seems quite range-bound. I'm observing the lower Bollinger Band at 74.99. Does anyone else anticipate a potential bounce from this level, or do you think we'll see a further test of support given the bearish RSI at 33.7?
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Hey @GrayFox21, yeah I'm watching XAGUSD too. This 75.95 area feels sticky, but honestly, with how hard it's been dropping today, I'm not sure about a bounce from the lower BB. The RSI is super low, like 30.5, but that can stay oversold for ages in a strong downtrend. I'm more worried about a potential break below that 69ish level we just saw. It feels like a liquidity grab might happen there, sweeping the lows before any real recovery. I'm thinking of putting a very small buy order way down near the S2 pivot at 64.02, just in case, but mostly just watching and trying not to get burned overnight. It's making me nervous, man. Gonna try and get some sleep soon.
Hey @GrayFox21, I'm seeing that too. That lower BB at 74.99 is definitely a level to watch, but the overall bearish pressure today is intense. I'd be cautious about a bounce unless we see some serious buying volume kick in.