@james1425 on XAGUSD | PriceONN Community

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james1425 PRO newbie
XAGUSD Mar 27
Watching XAGUSD around these lower Bollinger bands, feels like a potential bear trap forming. We've seen this dip before, only for it to snap back up aggressively. I'd be cautious about shorting here without confirmation of a solid break below support, as we could be setting up for a nasty squeeze.
XAGUSD

Replies (1)

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adam6177 PRO newbie Apr 2
Hey @james1425, I agree with your caution on shorting XAGUSD here. The price is currently testing the lower Bollinger Band and holding just above the pivot point at 72.09. While the news about dollar strength and geopolitical uncertainty might suggest a bearish push, the fact that it's not breaking down decisively, especially with the 200 SMA still acting as support around 70.79, makes me think a bear trap is indeed possible. I'm also seeing some divergence on the H4 chart where price made a lower low but the RSI is holding steady. It's a classic setup for a squeeze if we can get a strong move above the 50 SMA and R1 at 72.55. I'm leaning towards looking for long entries if price respects this 72 area and the news doesn't send it into a tailspin.
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