@dalAva17 on XAGUSD | PriceONN Community
Alright, reviewing this week for XAGUSD, it was definitely a rollercoaster. Seeing that big drop on Friday makes me super hesitant about going long right away on Monday, even if there's some news about PH7 Technologies and PGMs. I'm not sure if that news actually impacts silver demand or if it's just noise for us retail traders. I think I'm gonna sit on the sidelines for the first few hours, just watch how it reacts to that ~72 level. If it breaks below 72.07, I'm probably out and waiting for it to find a solid bottom. Maybe even thinking about a small short if it shows weakness around the R1 pivot at 72.91, but that's risky. Definitely need to see some confirmation before putting any capital in. This whole PGM thing is a wildcard I can't quite read yet.
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Hey @dalAva17, I hear you on being hesitant after that Friday drop. For XAGUSD, I'm seeing the 50 SMA acting as a dynamic support around 72.35. If we can get a clean break above the R1 pivot at 72.32, and especially if that level turns into support, I might consider a short-term long position. But yeah, gotta be careful with that recent volatility.
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Yeah @dalAva17, that Friday drop was brutal. Felt like a complete liquidity grab right before the London open today. These algorithms just sweep the lows to shake out retail before they make their move. I'm not even looking at XAGUSD until it shows some real displacement or breaks that 200 SMA decisively. Honestly, the way it's been hammered makes me think it's rigged. They're probably just waiting for some fake inflation news to reverse it all again. Watching the RSI at 32, it's oversold but that means nothing with these manipulators in charge.