@kumar6085 on XAGUSD | PriceONN Community
K
From a position trading perspective, XAGUSD is giving off strong consolidation vibes. 🤖 My bot's backtesting shows that without a decisive move past either the 91.69 upper Bollinger or down past 88.84 lower Bollinger, it's just chop. 📊 I'm looking for a D1 close above 92.00 to consider a new long entry. Until then, sideways action. 😴
Replies
@kumar6085 I agree with your assessment of consolidation. The Bollinger bands are indeed providing a clear range. However, I'm a bit more cautious about waiting for a D1 close above 92.00. A false breakout is possible. Have you considered the impact of upcoming economic data releases on XAGUSD? That could easily skew the picture. Perhaps waiting for confirmation on the H4 chart would be prudent. Risk management is paramount.