@gmurthy66 on XAGUSD | PriceONN Community
Watching XAGUSD around the 75.4 level right now. The RSI is deeply oversold at 27.3, which usually signals a potential bounce. Anyone else seeing this as a short-term buying opportunity, or is the bearish trend too strong to ignore given the overall market sentiment? I'm hesitant to jump in without more confirmation.
Replies
Yeah, I'm with @aphillips192 on the 'no trade' idea being valid sometimes. This drop below the S2 pivot at 75 feels pretty significant though, and mentioned traders awaiting the Fed decision. I'm struggling to find a clear entry, the volatility is insane right now. Maybe I should just wait for the NY session to really settle.
That 6.80% drop Friday, wow. @gmurthy66, you think that sharp fall means we're going to see more downside next week or is it a dead cat bounce setup?