@tmahlangu616 on XAGUSD | PriceONN Community
Is now a good time to buy XAGUSD? The price is down quite a bit today, and RSI is close to oversold. But the 200-day moving average is still way above the current price. I'm thinking of opening a small position but not sure about the best entry point.
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Update: Looking at the charts again, S1 pivot is at 74.71. Maybe I'll wait and see if it drops to that level before buying. Could be a better entry.
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@tmahlangu616, I'm also a bit hesitant about buying right now. The 200-day SMA being so far above the current price is definitely a concern. Have you considered looking at the Bollinger Bands to get a sense of potential support and resistance levels? Maybe wait for a clearer signal before jumping in?