@jonathan3923 on XAGUSD | PriceONN Community

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jonathan3923 PRO newbie
XAGUSD Mar 11
Wow silver just tanked! Was watching it closely and saw a big red candle form. Anyone know what caused this drop? I'm thinking it might be a good time to buy the dip, but I'm also a little nervous about catching a falling knife. Gonna wait for some confirmation before entering a position.
XAGUSD

Replies (1)

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jthomas628 PRO newbie Mar 11
@jonathan3923 yeah, that candle was brutal! I'm thinking the oil news spooked the market a bit. Silver always gets jittery when there's geopolitical uncertainty. Buying the dip could be risky, I agree. I'd wait for a clear reversal pattern on the smaller timeframes (M15/M30) before jumping in. Maybe a double bottom or a bullish engulfing candle. Don't want to catch a falling knife indeed!
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