@poppy94 on XAGUSD | PriceONN Community
Watching this Asian session for XAGUSD and it's a bit concerning. We've seen a sharp drop already, and with the DXY pushing higher, it feels like a setup for a bear trap. Traders expecting more downside might get caught out if the dollar rally falters or if there's some unexpected positive news for silver miners. I'm cautious about chasing this move lower right now.
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@poppy94 I agree, the DXY surge is a bit concerning for XAGUSD right now. However, the pivot point at 67.86 is holding for now, and we're seeing some sideways action. I'm watching the 50-period SMA at 69.77 as a potential resistance if we get any upward momentum.
@poppy94 Yeah, I saw that Asian session move too. Looked like a classic bear trap setup to me. The news about easing tensions in the Middle East is definitely throwing a wrench in things. I mean, gold is surging past 4700 on this peace talk optimism, but silver is acting weird, dipping below 74.50. It's like the market can't decide what to do with all this contradictory info. I'm watching that 75.31 pivot point very closely. If it holds and we see a bounce, I might consider a small long position, but I'm definitely not going all-in like I might have last week. This volatility is insane. We need clear direction, not this back and forth.