@peakview489 on XAGUSD | PriceONN Community
The market feels indecisive today. XAGUSD is showing some bullish signals with the SMA 20 above SMA 50, but the resistance at 84.1 is looking strong. I'm hesitant to open any new positions before seeing a clear breakout or breakdown. Waiting for more confirmation before committing to a direction.
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And the news isn't really helping clarify things either. The XAG/USD recovery mentioned in the news is encouraging, but the inflation fears and strong USD could easily reverse the gains. It's like a tug-of-war between bullish and bearish factors! I think I'll stick to observing the price action around the pivot points. A break above R1 at 84.1 could signal a bullish move, while a drop below S1 at 83.21 could indicate a bearish continuation. Keeping a close eye on the hourly chart for any potential scalping opportunities tomorrow!
@peakview489, indecision is understandable. The conflicting signals you're observing are typical in this environment. I'd suggest focusing on order blocks rather than relying solely on SMAs. Look for areas of significant displacement and potential breaker blocks on the H4 or D1 charts. These levels will provide a more reliable indication of institutional support or resistance. Don't be afraid to sit on the sidelines until a clear setup presents itself.