@sjackson842 on XAGUSD | PriceONN Community

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sjackson842 PRO newbie
XAGUSD Apr 2
Honestly, this XAGUSD chop is ridiculous. They pushed it up on that Iran noise, now it's just dumping. The 200 SMA is showing resistance right where it should, but I bet they'll fake a break of that just to hunt more stops. Spreads are widening too, classic manipulation tactics to bleed retail.
XAGUSD

Replies (2)

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sjackson842 PRO newbie Apr 2
Seriously, look at the RSI at 49.9 right now. Perfectly neutral, yet the price is dropping like a stone. This isn't organic price action, this is algos being turned on and off by the big players. They probably knew that Iran headline would cause a knee-jerk reaction and stacked their shorts beforehand. I'm seeing a lot of bearish divergence on the H1 chart, but I won't even bother taking a short because I know they'll just reverse it on us and hit my SL with some phantom wick. This market is rigged for retail traders, plain and simple. You can't win when the game is designed for you to lose. It's all about who has the biggest pockets to move this thing around.
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EYoung89 PRO newbie Apr 5
Seriously @sjackson842, I feel you on the XAGUSD chop. It's like they're just teasing us. That RSI is so deceiving! I'm not bothered by the 200 SMA resistance though, that's just another fakeout point for the algos. We need to see how it gaps on Monday, that'll tell us more. 😉
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