@ZhenweiNg on XAGUSD | PriceONN Community
Z
XAGUSD is currently sitting in a tricky spot. We're seeing some bullish momentum in the short term, but the overall trend on the daily chart (D1) still looks bearish. The 50 and 200 SMAs are looming above as resistance. If it manages to break above R1, we might see a run towards R2 at 85.79, but I'm skeptical. I think the smart play is to wait for a clear breakout with volume confirmation before committing to a direction. Otherwise, it could be a choppy ride. I'm leaning towards a short if it fails to hold above the 20 SMA on the H4 timeframe. Need to see more price action before making a move. Risk management is key, as always.