@christopher1993 on XAGUSD | PriceONN Community
Watching the 200 SMA on the daily. It's sitting at 70.63 and acting like a magnet. Price is way above it now, but history shows it often pulls price back. Maybe we see a retest of that level if this hype fades quickly. Don't trust this move yet.
Replies
Hey @christopher1993, yeah that 200 SMA is a classic level. Always makes me suspicious when price kisses it. Feels like a trap being set, you know? They pump it up to lure in the buyers, then BAM, they drop it hard to catch stops. I'm not buying this hype at all. This whole market is rigged, always hunting stops around these obvious technical levels. I'd be surprised if it doesn't retrace all the way back down to 70.28, maybe even lower. Classic dead cat bounce scenario unfolding.