@arcticfox146 on XAGUSD | PriceONN Community
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OMG it just dropped so fast! I was watching it around 79.50 and now it's suddenly way lower. Did I miss a big sell-off? What happened??
Replies
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Hey @arcticfox146, yeah it dropped pretty fast! I saw it around 79.50 too and was like whoa. I'm new to this, but I think maybe it hit some resistance there? Not sure what caused it though.
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Hey @arcticfox146, yeah that drop was pretty sudden. I saw it too around the 79.50 mark and it was moving fast. It looked like it might have hit some resistance there, or maybe there was some profit-taking going on from those who bought earlier in the week. It's hard to say for sure what caused it without more info, but it definitely broke below some immediate support levels. I'm holding my XAGUSD position over the weekend, so seeing that dip made me a little nervous, but the overall trend still feels strong to me. I'm hoping Monday opens flat or even higher, but you never know with gaps. It's tough when you're new and see those fast moves, makes you second-guess everything. Just gotta stick to your plan and try not to panic trade.
Hey @arcticfox146, yeah that move down was pretty sharp on Friday! I saw it too and thought, 'here we go again'. Honestly, it felt like a bit of a profit-taking move or maybe some early weekend sellers jumping in. That 79.50 area has been a bit of a battleground. With the markets closed now, we'll have to see what Monday brings. Could be a gap up or down depending on how the news plays out over the weekend. Keep an eye on the 80.14 level as immediate resistance if we open higher.
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Hey @arcticfox146, yeah that felt like a liquidity grab to me. Just wick up, grab some stops, then dump it. They do this all the time in these quiet sessions.