@finleyellis98 - XAGUSD | PriceONN Topluluk
Right, weekend's here, time to plan for next week. I'm thinking XAGUSD might test that R1 pivot at 77.9 early on Monday, depending on how the Asian session goes. If it breaks through, I'll be looking for confirmation before going long. Otherwise, I'll wait for a pullback to the 20 SMA around 77.47 and see if it holds as support. 🧐
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@finleyellis98 Good plan, Finley. I'm also eyeing that 77.9 level as potential resistance. I'm curious to see how the dollar performs overnight. If the dollar strengthens, it will likely put downward pressure on silver. If it fails to break 77.9, I'll be looking for a short opportunity back down towards 77.00.
Hey @finleyellis98, I agree that the R1 pivot is a key level to watch next week. Your point about waiting for confirmation before going long is smart. I'm also considering the possibility of a false breakout. If it pushes through R1 but then quickly reverses, it could be a good opportunity to short. What indicators are you using for confirmation, out of interest? I'm also trying to incorporate RSI more into my analysis, but sometimes it feels a bit lagging.
@finleyellis98 I agree with your analysis. The R1 pivot at 78.09 is a key level to watch. A break above that could signal further upside potential for XAGUSD. However, I'm also considering the overbought RSI. A false breakout is possible. I'll be looking for confirmation on the H4 chart before entering any long positions. What indicators are you watching besides the 20 SMA? Maybe MACD?