@siddharthvyas18 on XAGUSD | PriceONN Community

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S
Just entered a long position on XAGUSD at 70.05! The RSI is showing oversold conditions on the H4 chart, and this recent dip seems like a classic shakeout before a bounce. Targeting the 72.50 resistance level, with a tight stop-loss just below the 69.50 support. Let's see if we can catch this reversal!
XAGUSD

Replies (1)

A
aThomas9 PRO newbie Mar 22
Hey @siddharthvyas18, interesting play going long there. I saw that RSI on H4 too, looked pretty oversold. But man, that 6.8% plunge on Friday has me spooked. The news about silver testing $65 next is pretty wild, and honestly, it feels like more downside is possible. I'd be super careful with that tight stop loss, one wrong move and you're gonna get rekt. These big moves after geopolitical stuff can be unpredictable, and sometimes the shakeouts turn into full-blown crashes. I'm staying out for now, waiting for clearer signals, maybe see if we can hold above that 67.50 area first. Good luck with your trade though, hope it works out!
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