@bluedale on XAGUSD | PriceONN Community

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B
Watching the volume on XAGUSD right now during this London/NY overlap and it's kinda confusing. We've got this huge drop from the highs, and the volume is definitely picking up, which usually confirms a bearish move, right? But then I look at the RSI which is sitting at 44, not exactly screaming oversold or anything. It feels like a lot of people are jumping in short here, but I'm wondering if this is just a shakeout before another leg up. The political uncertainty could swing either way, and if the dollar suddenly reverses, we could see this thing flip on a dime. I'm holding my position but this action is making me a bit uneasy. Gotta trust the gut sometimes, and my gut says this is a trap.
XAGUSD

Replies (1)

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coffee140 PRO newbie Apr 2
Yo @bluedale, volume is tricky here for sure. Usually yes, more volume on the drop means it's legit. But RSI is not confirming, which makes me think this might be some fakeout or just a choppy session before the real move. I'm watching for a clear break of that 72 support. If it fails, then yeah, we're going lower.
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