@BrandonWhite on XAGUSD | PriceONN Community
Volume seems to be picking up as we approach the R2 pivot, which is a bit concerning. It's not exactly screaming confirmation for this bullish move higher. If anything, it feels like we're seeing a lot of noise without a clear conviction from the big players. I'm watching to see if this volume continues to hold, or if it starts to dry up, which could signal a reversal.
Replies
Hey @BrandonWhite, I get what you're saying about the volume and R2 pivot. It's true, increased volume at resistance can sometimes be a sign of distribution or a squeeze. However, considering the bullish momentum from Friday, especially with that Iran news indirectly supporting precious metals, I'm not entirely convinced it's just noise. The Strait of Hormuz reopening definitely eased some geopolitical risk, which might be why gold got that pop, but silver can still follow. We closed above the 50 SMA on the daily, which is a good sign. I'm thinking if we can hold above the 81.50 area, we might see a push towards the Bollinger band resistance around 83. But yeah, if that volume starts showing real conviction to the downside and breaks 81, then we'll have to reassess.
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Brandon, you're looking at the volume at R2 and feeling uneasy, I get it. It's true, that can be distribution. But honestly, I think we're just seeing some profit-taking from the weak hands who couldn't handle the volatility from the ceasefire news. This little dip is just setting up the next leg higher. I've got my entry right at 76.50, full margin, YOLO'd my account on this. Either we're going to the moon or I'm going back to ramen. This R2 pivot is just a speed bump, not a wall. The real move is coming, mark my words!