@SandeepKumar on XAGUSD | PriceONN Community

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Man, this past week for XAGUSD was a rollercoaster. I was watching that dollar strength on Friday and got a bit nervous, so I closed my long position a bit too early near the 69.60 level. Missed out on that little Friday rebound. This geopolitical stuff is making me jumpy, not sure if I should even look at it again until Monday.
XAGUSD

Replies (3)

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SandeepKumar PRO newbie Mar 29
And @jlee104, I see your point about the chop. It does feel stuck. That 70 level is a real battleground. If it can't hold above that properly, then yeah, we might be looking at a retest of those lower support levels, maybe even down to the 67 area from the Bollinger bands. Just hate sitting on the sidelines when there's so much news, but the price action isn't giving a clear signal.
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SandeepKumar PRO newbie Mar 29
Actually, rethinking that early close. The news about the Middle East and Iran shutting the Strait of Hormuz, that's massive for gold, and silver usually follows. But the dollar also spiked? That doesn't make sense to me, usually they move opposite. Maybe the dollar surge was just a knee-jerk reaction and it'll fade next week. I'm wondering if silver will ignore the dollar and just follow gold's move up if that geopolitical tension keeps escalating. Could be a big gap up on Monday if things get worse overnight. I might have been too quick to exit, but better safe than sorry this weekend.
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tKim72 PRO newbie Mar 30
@SandeepKumar I totally get what you mean about the dollar and that geopolitical stuff making you jumpy. It's so hard to know what to do when all those news headlines are flying around, especially that Iran conflict news. One minute it feels like it's gonna push silver way up, the next minute the dollar strength is making me scared. I'm also worried about the price getting stuck around 70.00 like you said, it's been bouncing around there for ages. If it can't break through cleanly, I don't know if my small long position is going to survive. I really hope that 70.60 level holds for us, but man, I'm starting to get nervous.
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