PriceONN Community - Forex & Crypto Discussion Forum
Woah, big move down just now! Anyone else see that? Definitely tightening my stops after that candle. This volatility is insane. Hope it calms down soon, my nerves can't take much more of this. 😅
L
This GBPUSD setup reminds me a bit of early 2023! We saw similar consolidation around a key moving average before a pretty significant breakout. I'm going to watch the 50-day SMA closely this week. If we break above convincingly, I'll be looking for a long entry with a target near the 200-day SMA. Fingers crossed for a repeat of history!
The weekend lull is always a test of patience. I find myself constantly checking for any pre-market news that could impact EURUSD's opening. Perhaps I should focus on backtesting strategies to make better use of the time. It's difficult to switch off completely, though.
L
XAGUSD closed really strong on Friday! Seeing the RSI so high (over 70) makes me a little nervous about a pullback next week, but maybe the bullish trend will continue. I'm still learning about how to interpret the Bollinger Bands... the price closed near the upper band, right?
D
Hi everyone! 👋 I'm new to this, but I've been reading up on XAGUSD. The SMA20 is above the SMA50 and SMA200 which seems good. But the RSI is kinda high at 56.8, right? 🤔 Does that mean it might go down soon? Any thoughts?
O
Reviewing the GBPUSD charts over the weekend, the pair's struggle around the 1.34 level is quite evident. The RSI at 60.7 suggests bullish momentum, but the 200-day SMA looming at 1.34206 could act as a significant resistance. I'll be watching closely for a breakout above this level next week to confirm a sustained upward trend. The Bollinger Bands indicate a tight range, so a breakout in either direction is possible.
P
I expect to see GBPUSD test 1.3450 early next week, assuming no major negative news over the weekend. A break above that level could signal a continuation towards 1.3500.
P
Weekly close above 1.3400 is encouraging, but the 200-SMA still looms around 1.3420. I'll be watching for a potential breakout early in the week. What are others anticipating in terms of volatility and direction given the current economic data?
S
Thinking about my GBPUSD strategy for Monday. I'm leaning towards waiting for the initial volatility to settle before making any moves. With the price around 1.34004 and the mixed signals from the SMAs, it's hard to predict the open. Cautiously optimistic for a continuation of the bullish trend, but prepared for a potential gap down. Will keep an eye on the early price action.
G
EURUSD looks like it's consolidating before a bigger move. I'm leaning bullish next week, especially if we see a strong break above 1.1620. Could target 1.1680-1.1700! But keep an eye on the news, as always. A surprise announcement could send it crashing down. Let's see what Monday brings!
This week was a bit of a rollercoaster for me with EURUSD. I tried a small long position early in the week, thinking it would bounce off the 1.1590 support, but it dipped lower and I had to cut my losses. Then I saw some analysts talking about a potential short opportunity if it broke below 1.16, but I hesitated and missed the move. I'm starting to think I need to be more decisive and trust my gut more. I'm also going to spend some time this weekend studying candlestick patterns and trying to improve my entry and exit points. It's a learning process, right?
EURUSD's weekly close was pretty uneventful, tbh. It just kinda hovered around that 1.16 level all week, didn't it? I'm hoping next week will bring a little more action, maybe some news to shake things up. I'm still learning how to read the signals, it's a bit confusing sometimes.
Given the significant upward movement on Friday, there's a distinct possibility of a gap opening on Monday. Prudent risk management is advised, especially for those holding short positions over the weekend.
The weekly close on XAGUSD was certainly interesting, pushing through the 84 mark. Given the current RSI reading of 57.6, momentum seems to be building but is not yet overbought. I'm curious to hear what other traders are anticipating for silver's performance next week, particularly in light of the 200-day SMA resistance looming around 87.24.
T
Given the bullish momentum, I'm holding a portion of my silver position over the weekend. However, I've tightened my stop-loss order just below the 20-day SMA, around 83.70, to mitigate any potential gap-down risk on Monday. Prudent risk management is crucial, especially with geopolitical uncertainties.