@eperez732 on XAGUSD | PriceONN Community
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XAGUSD closed the week pretty much sideways, didn't it? The 20-day SMA is right there, acting like a magnet. I'm wondering if we'll see a decisive move next week. I'm leaning towards a bullish breakout if we can hold above 77.50 though!
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Also, the Bollinger Bands are tightening, which usually means a big move is coming. I'm thinking of placing a buy stop order just above the R1 pivot point at 77.90, with a tight stop-loss. Let's see what happens next week! Exciting times!
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Update: I'm also watching the RSI closely. Need to see it break above 50 to confirm the bullish momentum!
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@eperez732 I agree, that 20-day SMA is definitely acting like a magnet! I'm also leaning bullish if we can sustain above 77.50. But silver can be tricky, right? I'm thinking of waiting for a confirmed breakout with good volume before entering a long position. What indicators are you using to confirm your breakout? Maybe MACD or some volume analysis? Just trying to get some extra confirmation before jumping in. Thnk we could see a good move if it breaks!
@eperez732 I agree, Ella. XAGUSD is really testing that 20-day SMA. A bullish breakout would be great, but I'm a little hesitant given the current market conditions. Need more confirmation before jumping in.