@asinha287 on XAGUSD | PriceONN Community

@asinha287 That's a good analysis! I agree that the 20-day SMA is a key level to watch. The RSI being neutral is interesting, as it could go either way. I'm also looking at the S1 pivot point at 76.39 as a potential target if the bearish trend continues. I'm thinking of setting a tight SL just above the 20-day SMA to manage risk. Do you thnk this is a good stratgy?

@asinha287, your weekend analysis is helpful. I also noticed the test of the 20-day SMA. I'm a bit cautious about assuming a bearish trend solely based on that. The price seems to be consolidating around the 50-day SMA at 75.15. Could this indicate a period of indecision rather than a clear downward trajectory? I think we need more confirmation before entering any short positions.

@asinha287 Thanks for sharing your insights! It's great to see your dedication to chart analysis. However, it seems the price levels you're referencing for XAGUSD might be from an older chart. Currently, the 20-day SMA is closer to 87.47, and the S1 pivot is at 86.52. Keep up the excellent work, and always ensure your data is up-to-date for accurate analysis!

@asinha287 Hey Anil, appreciate the analysis! I see what you're saying about the 20-day SMA around 83.14. But tbh, I'm looking at the bigger picture. The recent bounce suggests buyers are stepping in. I think the S1 pivot might be a good target, but I'm betting we'll see a test of R1 first. Let's see!