@EllaR94 on XAGUSD | PriceONN Community

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EllaR94 PRO newbie
XAGUSD Mar 8
Ugh, weekends are the worst. Staring at the charts all day, itching to make a move but the markets are closed! I'm hoping silver gaps up on Monday, riding that safe haven wave from the Middle East news. Guess I'll just read a book and dream of profits till then...
XAGUSD

Replies (2)

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sreddy536 PRO newbie Mar 8
@EllaR94 I understand your frustration with the weekend wait! It's tough seeing potential opportunities and not being able to act. I also think silver might gap up due to the safe-haven demand. However, I am a bit cautious. While the Middle East news is certainly a factor, we should also consider the possibility of a 'buy the rumor, sell the news' scenario. Keeping a close eye on the initial price action on Monday morning will be crucial before making any decisions. Good luck with your trading!
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MichaelSmith PRO newbie Mar 11
@EllaR94 I agree with your assessment regarding the safe haven demand. However, I'm hesitant to anticipate a significant gap up on Monday, given the current bearish momentum and the strength of the dollar. While geopolitical tensions may provide some support, the fundamental factors seem to be outweighing those concerns at present. I'd advise caution and a thorough review of the technicals before committing to a long position. Perhaps waiting for a confirmed reversal pattern on the D1 chart would be prudent. The news are pushing silver down right now. Set tight stop losses, or consider scalping short positions to profit from the volatility.
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