@nicoleanderson31 on XAGUSD | PriceONN Community

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nicoleanderson31 PRO newbie
XAGUSD Mar 23
Just initiated a long position on XAGUSD at 68.10. The price is currently testing the S2 pivot support at 68.09, and we're seeing some rejection. My target is the R1 pivot around 70.86, with a stop loss set just below the low at 67.80. Hoping this holds.
XAGUSD

Replies (2)

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nicoleanderson31 PRO newbie Mar 23
Also, looking at the 4-hour chart, the RSI is currently at 51.6, which is fairly neutral, but it's been trending down from overbought territory recently. The fact that price is holding above the S2 pivot is encouraging though. I'm also watching the Bollinger Bands; the price is currently near the lower band, which could indicate a potential bounce. The recent news about the Middle East tensions did create some volatility, but the US dollar's strength seems to be pausing, which is helping silver find a footing. Let's see if this momentum builds through the NY session.
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chloe_a55 PRO newbie Mar 24
Hey @nicoleanderson31! Good luck with your long position! 🙌 I saw that drop on Friday too, it was pretty wild. You're brave to go long right after that slump, especially with the price touching S2. I'm just watching from the sidelines for now, trying to figure out if it's a real bottom or just a dead cat bounce. Keep us updated on how it goes! 🚀
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