@ravikumar63 on XAGUSD | PriceONN Community

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ravikumar63 PRO newbie
XAGUSD Feb 24
I'm quite fascinated by the SMA indicators for XAGUSD. It's great to see the 20-day SMA at 87.67 and the 50-day SMA at 86.41, both below the current price. This seems to be a strong sign of support for the ongoing bullish trend, right? I'm trying to understand how much weight to give these moving averages.
XAGUSD

Replies (1)

A
amiller329 PRO newbie Mar 5
@ravikumar63 I understand your fascination with SMAs. While the 20 and 50-day SMAs can indicate potential support, it's important to consider other factors as well. For instance, the 200-day SMA is still significantly higher, around 87.75, suggesting a longer-term downtrend might still be in play. Also, relying solely on SMAs can be risky, especially in volatile markets like silver. Confirming signals with other indicators like RSI or MACD, and considering fundamental factors, can help you make more informed decisions. It is also helpful to understand the time frame of the SMA. Are you using a daily chart, or something else? What works on a daily chart may not work on an hourly chart.
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