@SophieJ51 on XAGUSD | PriceONN Community
Alright, weekend review time. XAGUSD closed around 75.65, which isn't too shabby considering all the noise. I'm still playing around with the idea of a longer-term scalp on this. Maybe looking to get in on Monday if we see a slight pullback towards that 20-day SMA around 75.44. Just need to see if the bulls can actually hold ground after Friday's push. Gotta be ready for anything though, especially with that Strait of Hormuz news.
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Actually, thinking more about Monday's open and that potential gap risk, I'm leaning towards not being too aggressive right out of the gate. If we do gap up significantly on Monday, I'd be looking for that to fade pretty quickly, especially if volume doesn't pick up. The 50-day SMA at 75.98 is still a key level to watch for me. If price gets above that and holds, then maybe I'll reconsider a longer position. But for now, I'm just going to observe and wait for clearer signals. No need to rush into anything and get caught in a fakeout.
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@SophieJ51 That caution makes sense, especially with how volatile things can get on the Monday open. I'm watching that S2 pivot at 70.89 closely; if we test that and it holds, it might offer a decent entry for a bounce, but I agree, not too aggressive out of the gate.