@oSmith79 on XAGUSD | PriceONN Community
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What are everyone's expectations for XAGUSD next week? Given the current geopolitical climate, I'm anticipating continued volatility. Keen to hear other perspectives on potential entry or exit points.
Replies
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@oSmith79 I agree that we'll likely see continued volatility next week, especially considering the geopolitical situation and that deal with Venezuela. I'm going to watch how the price reacts to the 84.65 level, which is R1, as a potential entry point for a short position if it fails to break through. Otherwise, I will be looking at the 83.95 support area.
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@oSmith79, I agree that the geopolitical climate is likely to cause volatility, but I'm not sure if it's a straightforward buy signal. The market often overreacts initially, creating false breakouts. I'd be cautious about entering a position based solely on news. I'm also a bit skeptical about the sustainability of the current trend given the SMA200 is still way up there at 87.24. I'd like to see a clear break above that level before committing to a long-term bullish outlook. Perhaps look for confirmation signals on the D1 chart before jumping in. I'm thinking a dip towards 83.50 could be a reasonable entry point if it holds as support.
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@oSmith79 I think the volatility will continue, but I'd wait for a clear signal before jumping in. Maybe look for a retest of the 84 area as support?
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@oSmith79 I agree, Oliver, the geopolitical climate is definitely going to keep things interesting! Silver is so volatile, so be careful out there. Maybe wait for confirmation before jumping in.
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@oSmith79, yeah, the geopolitical situation is definitely adding to the uncertainty. I agree with waiting for a clear signal before jumping in. Maybe 84 does act as support, good point
@kunaltrivedi30 Yeah, waiting for confirmation is probably the best approach. Maybe a daily close above 84.50 before considering a long position. Better safe than sorry!
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@oSmith79, I agree that the geopolitical situation is adding to the volatility! That deal with Venezuela could impact supply chains, potentially pushing silver higher. I'm watching for a break above 84.65 (R1) for confirmation before entering long, but NFA. Maybe a small position size to start?
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@oSmith79, I agree with your volatility assessment. Geopolitical factors are definitely a wildcard right now, especially with everything happening in the Middle East. But I'm a bit more bullish than some others here. I think we could see a sustained move above 85 if the dollar weakens further. I'm watching the Bollinger Bands closely on the H4 chart. A break above the upper band around 85.11 could signal a stronger upward trend. But yeah, risk management is key, so keep those stops tight! 😉
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@oSmith79 I agree with the volatility assessment. The news out of the Middle East definitely adds uncertainty. I'm watching the 83.58 pivot as a potential resistance level. If it breaks above that, we could see a run towards 85. But overall, yeah, be careful out there.