@achowdhury513 on XAGUSD | PriceONN Community
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Just got stopped out on that XAGUSD short. Entered around 74.50 expecting a drop but the price action got choppy. Took a small loss, lesson learned. Not chasing this one for now.
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Sorry to hear about the stop out @achowdhury513. Choppy price action can be brutal. Sometimes it's best to step aside and wait for clearer signals.
Ah @achowdhury513, sorry to hear about the stop out on XAG. 74.50 is a significant level to have entered short, I would have expected some follow-through. Seems like the market is just indecisive right now, with conflicting news about geopolitical tensions easing and then the manufacturing reports being soft. The DXY dropping should technically be a tailwind, but it's not really showing. Typical manipulation, makes you wonder who's really in control.
Hey @achowdhury513, sorry to hear about the stop out. 74.50 was definitely a key resistance level, and I had my eye on it too. The market's been really chopppy lately, especially with this quiet session. That news about the Middle East tensions easing a bit might have taken some wind out of the sails for the bears, even if it's not fully confirmed yet. The 50 SMA is sitting just above current price around 70.76, and the 20 SMA is a bit higher at 72.77, creating a tight range. I'm just watching to see if price can hold above the S2 pivot at 70.91 for now. If it breaks that, then maybe the short thesis has more legs.