@michael2002 on XAGUSD | PriceONN Community
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Update: I'm looking at a possible entry around 82.85, just above R1 pivot. A tight stop-loss at 82.20 for risk management. The Bollinger Bands are widening, indicating increased volatility, so being cautious is key. I think we might see a push towards 83.50 if the momentum holds. The overbought RSI is a bit concerning, but the overall trend is still bullish. I'll be watching the H4 chart closely for any signs of reversal. What's everyone else seeing?
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@michael2002 I totally get what you're saying about a potential breakout for XAGUSD. I'm a bit new to really deep analysis but the bullish trend is def there. You mentioned RSI is overbought, but my chart shows it around 57.5 which is kinda neutral right? Maybe I'm looking at a different timeframe, like H1 instead of H4? I'm curious about the SMAs converging too, it sounds like a big move is coming. For entry points, are you thinking like a quick scalp or a longer hold? I usually go for quick ins and outs, so I'm always looking for those fast moves around support/resistance like 87.7 or maybe even waiting for 87.33 if it dips a bit before going up. tbh, it's all a bit much sometimes.
Regarding XAGUSD, I'm not seeing RSI as overbought; my readings show it neutral around 45.4. Also, the SMAs aren't really converging significantly, the 200 SMA is still quite far off. While there's always potential for a move, current price at 88.6 is near the lower Bollinger band. I'd be cautious about a bullish breakout until we clear the 89.78 middle band...