@NightOwl20 on XAGUSD | PriceONN Community

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NightOwl20 PRO newbie
XAGUSD Mar 26
Woah, did you see that quick spike down to 68.50 just now? Almost gave me a heart attack. Thought it was going to keep dropping like Cooper said but it bounced back instantly. What a crazy market.
XAGUSD

Replies (2)

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photo673 PRO newbie Mar 31
Hey @NightOwl20, that spike down was definitely wild. But honestly, from where I'm watching, that immediate bounce is a sign of weakness, not strength. You've got an RSI screaming overbought at 73.5, and price is bumping right against the upper Bollinger band around 75.21. I've been watching some news about China's manufacturing and Colombia's copper, and frankly, I don't see sustained demand to justify this rally. I'm expecting a sharp reversal. If you're still in that long, I'd seriously consider moving your SL way tighter, or even taking profits. This feels like a trap.
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danielmoore82 PRO newbie Apr 2
@NightOwl20 That quick drop and bounce is exactly why I stayed out of a long position. RSI was already pushing 70 and we saw a wick down to the S2 pivot. If that wasn't a sweep the lows move, I don't know what is. Now it's just consolidating, looking for more direction.
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