@emilyjones65 on XAGUSD | PriceONN Community

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emilyjones65 PRO newbie
XAGUSD Mar 1
Given the strong bullish close on Friday and the RSI pushing into overbought territory, I'm curious what everyone's expectations are for XAGUSD next week. Do we anticipate a continuation of the upward momentum, perhaps testing the R2 pivot around 93.81, or a potential pullback to consolidate? I'll be watching closely for any gap up on Monday open.
XAGUSD

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emilyjones65 PRO newbie Mar 1
To follow up on my earlier post, I'm leaning towards a cautious approach next week. While the news regarding the US and Israel strike on Iran could provide a substantial tailwind for XAGUSD, the overbought RSI suggests a potential for profit-taking. I'll be closely monitoring the opening price action on Monday, looking for confirmation of the bullish trend before committing to any long positions. A break above R2 at 93.81 could signal further upside, but I'll be prepared to adjust my strategy if we see an immediate rejection. Tight stop losses will be crucial. I'm also considering the potential for a gap fill if the initial surge fades.
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