@cokonkwo184 on XAGUSD | PriceONN Community
Okay so XAGUSD is at 88 right now and the trend is still bullish which is good. RSI is neutral but the 20 and 50 SMAs are looking supportive around 87.67 and 86.41. I'm thinking of waiting for a clear break above the upper Bollinger band around 89 before adding more to my long position. Or maybe a retest of the 87.50 area as support.
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@cokonkwo184 XAGUSD is trading closer to 89.45 right now. I agree RSI is neutral, but the overall trend feels neutral too, not strongly bullish. The 20 and 50 SMAs are a bit mixed for support around 89.89 and 88.82. Upper Bollinger is more like 91.79. Waiting for a clear break there makes sense, but I'd be cautious about adding more long unless it holds above R1 at 89.6 first.
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@cokonkwo184 That's a good plan to wait for a break above the Bollinger band. I'm still learning about those, but it seems like a smart idea!
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@cokonkwo184 I agree that the 20 and 50 SMAs are providing some support, but I wouldn't be so quick to add to your long position. 88 is quite a ways off from the current price around 83.7. A clearer signal is needed. Waiting for a break above the upper Bollinger Band around 85.73, as you suggested, makes sense. However, keep an eye on the RSI as well. A sustained move above 70 could indicate overbought conditions, potentially leading to a pullback. Risk management is key here.