@grace1996 on XAGUSD | PriceONN Community
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I'm looking at the price action for XAGUSD right now and it seems to be really struggling to hold ground. The volume seems to be picking up on these down moves, which usually confirms the bearish trend, doesn't it? I'm not entirely sure how to interpret this, but it feels like sellers are getting more aggressive. I saw some news about the dollar strengthening and that usually hurts silver, so maybe that's related. I'm just hoping my small position doesn't get wiped out by morning.
Replies
Hey @grace1996, I saw that too. The volume picking up on the downside does usually signal weakness, but with silver, you never know. It can get manipulated pretty easily. I'm personally not too worried about that bearish trend signal right now. The news about Iran and the Strait of Hormuz is huge, and that should really be pushing precious metals higher. I think the dollar's move on Friday was temporary, and we'll see silver break out of this little slump. I'm actually looking to add to my position if it stays around these levels. Don't get too spooked by one afternoon's action; the bigger picture is still bullish for XAGUSD in my opinion.
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Yo @grace1996, I hear you on the volume but honestly, this is just liquidity grab territory. Smart money knows retail hates seeing silver fly. We're pushing past 74 now, this isn't struggling, it's building momentum. Those 'down moves' are just fakeouts to shake out weak hands before the real pump. I'm already all-in 100x leverage, see you on the moon or in the gutter lol. This RSI at 67 ain't even close to overbought yet, plenty of room to run. Don't get caught on the wrong side of this insane move.