@linda7455 on XAGUSD | PriceONN Community

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L
Hey everyone, I'm really trying to get a better handle on using Fibonacci retracement levels more effectively. I've seen them applied to XAGUSD charts, but I'm not sure about the best swing points to select for drawing them. Does anyone have a go-to strategy or a specific indicator they pair with Fibo levels for confirmation? I'm looking to improve my entry and exit points. Thanks in advance!
XAGUSD

Replies (1)

L
linda7455 PRO newbie Apr 20
Going back to the Fibonacci idea, I'm thinking that maybe combining it with the 200-day SMA could be a good way to filter potential trades. If a Fib level aligns with the 200 SMA, that could indicate a stronger support or resistance zone. I also read somewhere that looking at the RSI for divergences around these key Fibo levels can be very powerful. I'll try to backtest this approach on historical XAGUSD data later today. It feels like having multiple confirmations will really reduce the guesswork involved, especially with how volatile silver can be. Wish me luck with the analysis!
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