@jwright260 on XAGUSD | PriceONN Community
This XAGUSD chart looks like it's been through a warzone this week. Seeing that drop below the 200 SMA on Friday was rough. Now the big question is, will we see a gap open on Monday? That Middle East news has been all over the place, and if things heat up again over the weekend, we could be in for a wild ride come Sunday night. I'm just hoping my position doesn't get blown out before I even get a chance to manage it.
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And speaking of the geopolitical stuff, seems like the dollar strength narrative is what's really hurting silver right now, not so much the tensions easing. It's a tough one to call how it'll play out over the weekend. I'm going to keep an eye on the DXY too, see if that gives any clues. If the dollar keeps climbing, XAGUSD is going to get hammered.
Seriously though, if that gap opens against me, I'm just going to go all in on a reversal. No point in crying over spilled milk when you're playing with leverage this high. It's either feast or famine, right?
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@jwright260 Yeah, this week has been wild on XAGUSD. The drop below the 200 SMA was definitely a shocker. I'm not sure about going all-in on a reversal if there's a gap though, that sounds super risky! I'd rather just wait for confirmation after the open.