@aidenthomas on XAGUSD | PriceONN Community

@aidenthomas March 2023 comparison is interesting. RSI is oversold but I'm wary of catching a falling knife. Waiting for confirmation is wise. I'm looking for a breaker block to form before considering any long positions. Patience is key here.

Hey @aidenthomas, I totally get your point about March 2023 feeling similar. That big drop and then quick reversal is a classic pattern, and it's tempting to jump back in. I've been watching the RSI too, and yeah, it's looking pretty oversold on the H4 chart, which is a good sign. However, with all that Fed uncertainty and the news about silver tumbling, I'm a little hesitant to go long just yet. I'm also waiting for a clear confirmation candle, maybe a strong bullish engulfing, before I commit. It feels like catching a falling knife if we jump in too early, you know? What are your thoughts on the current resistance levels around 81.50-81.70? Do you think a break above those is necessary for a true reversal, or are you looking for something else?

@aiden3204 That comparison to March 2023 is interesting, but I'm wary of getting caught in a falling knife situation. The news about oil prices being high is also adding to inflationary concerns, which might make central banks more hesitant to ease policy. I don't see the same setup for a strong reversal as you do. Waiting for solid confirmation, like a clear break of resistance or a bullish divergence on the daily chart, is essential before even considering a long.