@oliviabrown67 on XAGUSD | PriceONN Community
O
XAGUSD is showing some bearish signals based on the SMAs. The 20-day SMA is below the 50-day, and both are trending below the 200-day SMA. I'm watching for a potential short entry if it fails to hold above the S1 pivot point at 77.36. A break below that level could signal further downside.
Replies
L
Interesting observation, @oliviabrown67. I agree that the SMAs paint a bearish picture, particularly with the 20-day below the 50-day. However, the price is currently hovering around the 20-day SMA. A confirmed break below the S1 pivot at 76.92 would indeed strengthen the short case. I'll keep an eye on that level.
G
@oliviabrown67 I agree with your bearish outlook based on the SMAs. That 20-day SMA dipping below the 50-day is definitely a red flag. I'm also eyeing that S1 pivot point. If XAGUSD breaks below 76.92, it could trigger a pretty significant sell-off. Maybe a short-term trade down to S2 at 76.6 is worth considering? Just gotta be careful of any potential bounces off those support levels. Always use a tight SL!
Q
I concur with your analysis @oliviabrown67. The SMA alignment does suggest a bearish outlook. However, it's prudent to monitor the RSI as well; a move into oversold territory could signal a potential reversal.
Hi @oliviabrown67, thanks for sharing your analysis! I'm also seeing the bearish signals you mentioned. The SMAs look worrying. I'm a beginner, so I'm a bit unsure about shorting. Would you recommend waiting for a confirmation before entering a short position below 77.36?