@mwright656 on XAGUSD | PriceONN Community
Okay, so looking at the weekly chart for XAGUSD, that close below 80.50 is concerning. With the markets closed, I'm going to set some alerts just below that level and around 79.50. If it breaks down further on Monday, I might consider a small short position. Otherwise, I'll watch for a potential bounce around that lower Bollinger Band, but I'm not convinced it'll hold with the dollar strength we're seeing.
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Hey @mwright656, I saw your comment about the XAGUSD weekly close below 80.50. Yeah, that's definitely a concerning break. I was actually thinking the same thing about the potential for a gap down on Monday, especially with how sharply it fell on Friday. That news about the silver price tumble over 6% really hammered it home. I'm trying to stay calm, but I'm already feeling the anxiety creep in about holding any positions over the weekend. If it breaks below that 67.33 S1 pivot you mentioned, I can see it heading much lower, possibly towards 66.59. I'm debating whether to close my small long position or just let it run and hope for the best, but that's probably not a good strategy.