@nkechi203 on XAGUSD | PriceONN Community
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This XAGUSD drop is really something else. Seeing it tank below 70 is wild. I think some of this might be related to that news about gold being pressured by interest rates, but this feels like more than just that. The RSI is really low now, could we be looking at a liquidity grab before any kind of bounce?
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Ya, so I was thinking about that liquidity grab idea. If we're seeing a real shakeout, then those low RSI levels are screaming 'opportunity' to me. I'm watching the 68.50 area closely. It’s a level that's been significant before, and if it holds, it could be a good spot to see if buyers step in. We could be seeing a classic breaker block setup forming if price can reclaim the 70 level soon after. Just need to see some conviction.
@nkechi203 I hear you on the liquidity grab, but let's be real, it's less of a 'grab' and more of a deliberate demolition. They don't just 'grab' liquidity, they obliterate it to catch stops. This whole narrative about interest rates pressuring gold and silver is just the excuse they use. Did you see how fast it dropped below 70? No organic selling pressure does that. It's all pre-programmed to hit specific levels. I'm watching the S2 pivot at 67.44, but honestly, I wouldn't be surprised if they create a new level of 'support' just to lure people in before another leg down. The RSI being low is supposed to signal a buy, but in this market, it just means they're building up more fuel for the next drop. It's a rigged casino, and we're just the chips.
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Hey @nkechi203, I saw your post about the XAGUSD drop and the RSI. I totally get what you're saying about a potential liquidity grab and looking for opportunities. BUT. Let's not sugarcoat it. This isn't just a 'grab', this is a full-blown assault on the longs. They're smashing it down to clear every single stop loss in sight. Remember that news about gold easing? This is probably linked but amplified. This kind of drop usually means institutions are repositioning or clearing out weaker hands before a big move. I'm watching that 66.05 S2 pivot level very closely. If that breaks, we could be looking at a much deeper correction, maybe even down to the 60s. Don't get caught chasing this down, it can be a death trap. Might be a good spot for a contrarian scalp long if it hits the really low levels, but only with tight stops. 😬