@braveFern1 on XAGUSD | PriceONN Community

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This XAGUSD chart is a bit messy heading into Monday. Friday's close below the 20-day SMA is a bit concerning, but it's still holding above the 200-day. I'll be watching to see if we get a gap down on the open; that could be a signal for smart money stepping in. Otherwise, I'm leaning towards a cautious approach next week.
XAGUSD

Replies (2)

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braveFern1 PRO newbie Apr 5
And I'm definitely not going to chase price like @RedFox9 was saying. That just sounds like a fast way to blow up an account. My plan is to wait for a clear signal, ideally a confirmed bounce off support or a break and retest of resistance. This RSI at 53 isn't screaming buy or sell right now, so patience is key. I might even sit out the first hour on Monday morning just to see how the market settles after the weekend's news, whatever that PH7 thing is. Don't want to get caught in an early gap fill or a fakeout. Better safe than sorry, especially with silver.
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braveFern1 PRO newbie Apr 5
Actually, thinking about it, that 72.00 level @nycAshley24 mentioned is interesting. If we do see a dip there, it lines up with the S2 pivot point and the lower Bollinger band. Could be a decent spot for a bounce. Still, with how volatile silver has been, I'd set a tight SL just in case.
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