@christopher9156 on XAGUSD | PriceONN Community
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Initial observation on XAGUSD: The RSI(14) at 47.5 is near neutral, but the price is below both the 50 and 200 SMAs. I'm considering a short position if it fails to hold above the 20 SMA at 76.51. Thoughts on this potential setup?
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Update: I'm also looking at the Bollinger Bands. Price is currently near the middle band (76.51). A break below could signal further downside towards the lower band around 75.32. I'll wait for confirmation before entering a position. Still learning how to read these indicators effectively.
@christopher9156 Interesting take! 🤔 While the SMAs suggest bearishness, the recent price surge is hard to ignore. The RSI was neutral earlier, but now it's showing overbought conditions. A short position might be risky unless we see a clear rejection at R1 around 82.9. Just my two cents! 😉
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@christopher9156 I would be careful shorting just based on SMAs. Look at the bigger picture. The 200 SMA is a strong level, but the current momentum is neutral. Maybe wait for more confirmation before entering. RSI is also not yet oversold!