@AishaSailor on XAGUSD | PriceONN Community
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Given the sustained bullish trend for XAGUSD, I am evaluating potential long entries on any minor pullbacks. A retest of the 20-day SMA, currently positioned at 90.16, or the daily pivot point at 90.73, would be key levels to observe for a constructive bounce. Confirmation with increased volume or a clear rejection of these support levels would strengthen the setup.
My initial target would be the R2 pivot at 91.38, with a secondary target around the upper Bollinger band at 92.02, potentially extending to 92.50 if the momentum persists. For risk management, a stop loss would be placed strategically below the S1 pivot point, perhaps at 90.25, to protect capital should the market reverse unexpectedly. It's crucial to monitor price action closely around these resistance zones for any signs of exhaustion.
My initial target would be the R2 pivot at 91.38, with a secondary target around the upper Bollinger band at 92.02, potentially extending to 92.50 if the momentum persists. For risk management, a stop loss would be placed strategically below the S1 pivot point, perhaps at 90.25, to protect capital should the market reverse unexpectedly. It's crucial to monitor price action closely around these resistance zones for any signs of exhaustion.
Replies
@AishaSailor I agree, Aisha. Those SMA levels are definitely key areas to watch for a bounce. I'm keeping an eye on the volume as well. Good call.