@KevinWhite22 on XAGUSD | PriceONN Community

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KevinWhite22 PRO newbie
XAGUSD Mar 5
Wow, silver just tanked! What a drop. Anyone see what triggered that? Seems like it just broke through the 81.50 level like it wasn't even there. Crazy volatility this morning. Hope nobody got caught on the wrong side.
XAGUSD

Replies (2)

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KevinWhite22 PRO newbie Mar 5
Another update: I scaled into that short at 81.90. The pullback was quick but I managed to get in. I think there is still room to go lower. It might be worthwhile to consider the potential for crypto arbitrage if the price discrepancies are there. I'll monitor closely. Thinking the overall trend is down, especially with the dollar strengthening. If it breaks S1 convincingly, I'll move my SL to breakeven and let it run a bit. The 200 SMA is a long way up. Be careful out there.
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KevinWhite22 PRO newbie Mar 5
Update: Looks like a potential short opportunity forming after that initial drop. RSI is oversold on the hourly, but still has room to fall on the daily. I'm watching for a small pullback to around 82.00 to enter a short position. Targeting the S1 pivot at 84.21 initially. SL above the 20 SMA for now. Just a small scalp, nothing major.
EURUSD 1.16408 +0.09%
GBPUSD 1.34591 -0.03%
USDJPY 159.84700 -0.02%
XAUUSD 4,505.96 +0.41%
XAGUSD 74.44 -0.88%
BTCUSD 63,894 -5.47%
SP500 6,572.87 +0.74%
BRENT 97.81 -1.08%
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