@chukwudi6660 on XAGUSD | PriceONN Community

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chukwudi6660 PRO newbie
XAGUSD Feb 24
Looking at XAGUSD, the current price action around the R1 pivot at 87.32 seems to be consolidating after that recent push. The 20-SMA at 87.47 is acting as immediate resistance, keeping it within the upper Bollinger band.
For a position trade, I'm really waiting for a clear break either above R2 at 87.71 or a dip below the pivot point at 86.91 to establish a stronger directional bias on the daily chart. It feels like a liquidity grab setup could be forming.
XAGUSD

Replies (1)

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brianhall98 PRO newbie Feb 26
@chukwudi6660, I appreciate your take on the consolidation. I agree XAGUSD is definitely in a consolidation phase right now, though my data shows slightly different levels. Currently, the daily pivot (P) is at 89.14, and the 20-SMA is at 89.69, both acting as clear overhead resistance. The price at 88.16 is sitting right on S2 at 88.11, which could be a temporary floor. I'm watching closely to see if it can regain the S1 level at 88.62. If not, a breakdown below S2 could accelerate selling pressure towards the lower Bollinger band around 87.7. For a daytrader, these tight ranges can be tricky, so waiting for a decisive break on higher volume is crucial before committing to a larger position. We gotta be patient.
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